Riyadh: Saudi Arabian Oil Co. raised its oil prices for April across the board, with the price for some varieties hitting their highest ever level, amid the war in Ukraine and disruption to Russian oil supplies. The state-run company, known as Saudi Aramco, raised its prices for sales of its Arab Light crude to Asia by $2.15 a barrel to $4.95 a barrel above the Oman\/Dubai average, its highest ever level. Russia\u2019s invasion of Ukraine has sent energy prices higher. The conflict threatens to disrupt the Russian gas supplies that flow through its neighbor, and sanctions on Russia have also prompted oil traders to avoid dealing in Russian crude, hitting Russian exports. On Sunday, the U.S. said that, together with some European partners, it is considering an outright ban on Russian oil imports–the news sent Brent crude above $130 a barrel for the first time since 2008. News Desk
\nAramco also said prices for sales to the U.S. would increase by $1 a barrel to a $3.45 a barrel premium over the Argus Sour Crude Index.
\nPrices for Northern European consumers were increased by $1.70 a barrel to a $1.60 a barrel premium over the ICE Brent benchmark.
\nFor consumers in the Mediterranean, prices were raised by $1.90 a barrel to a $1.90 a barrel premium over Brent.<\/p>\n","protected":false},"excerpt":{"rendered":"
Riyadh: Saudi Arabian Oil Co. raised its oil prices for April across the board, with the price for some varieties hitting their highest ever level, amid the war in Ukraine and disruption to Russian oil supplies. The state-run company, known as Saudi Aramco, raised its prices for sales of its Arab Light crude to Asia […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-248276","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n