Saudi Arabia raises oil prices

US, WASHINGTON (ORDO NEWS) — Saudi Arabian State Oil Company Saudi Aramco has finally released export prices for June. For the third month in a row, she does this with a delay to the usual schedule, creating a certain intrigue.

If Saudi Aramco has been lowering prices in recent months, pursuing a kind of price war policy, now it has finally raised prices for all markets, including Asian, European and American, Bloomberg reports.

The situation in the oil market has begun to improve, with barrels becoming more expensive in the physical market, and not just in the futures market. Demand is gradually recovering, although, of course, it is still very far from the previous levels.

Nevertheless, the decision of the Saudis to raise prices may serve as an additional signal for stabilizing the hydrocarbon market.

By the way, after the news, oil futures quotes accelerated growth and returned to Wednesday highs.

On the eve, recall, in the first half of the day there was also an increase, but then a correction began, and as a result, the day ended with a decrease.

The oil market is now extremely volatile, daily prices go up by 10-20%, and this is no longer something outstanding.


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