The Commodities Feed: Copper spread tightens on inventory withdrawals
From think.ing.com
Saudi Arabia increased its official selling price for all regions for July, a day after the nation pledged an additional oil supply cut for the same month. Saudi Aramco will sell the Arab Light crude for buyers in Asia at a US$3/bbl premium for July deliveries, an increase of USą45/bbl compared to June 2023. The premium for the US and European deliveries has increased by USą90/bbl, while buyers in the Mediterranean region will see an increase of USą60/bbl. The hike in premium comes as a surprise considering ongoing demand concerns and that Saudi Arabia has been pushing for supply cuts to bring the oil market into ...
(full story)