Saudi Aramco has raised its official selling price (OSP) for Arab light for Asia by USD 0.20/bbl to USD 2.00/bbl above the benchmark (Oman/Dubai average) for September.
This is the first bump higher in three months. It fell short of the +50 cents expected (Bloomberg survey, n=5)
It suggests a degree of confidence in more solid demand in Asia.
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Oil futures open for trade in around an hour and a half.
Brent crude had a soft week last:
This article was written by Eamonn Sheridan at www.forexlive.com.
