Via Bloomberg comes this news on a Saudi Arabian Oil Co. statement on Sunday that:
- Saudi Arabia raised pricing for all May sales to Asia
- State-owned Saudi Arabian Oil Co. narrowed the discount for its Arab Light grade to Asia to the least since December
- It has set the crude at a discount of 60 cents a barrel to the regional benchmark
- That puts the May pricing 30 cents higher than in April
- The company also increased the pricing of the other four grades it ships to Asia
- But ... it cut pricing for May sales of Light crude to the U.S. by 10 cents a barrel and to Northwest Europe by 20 cents, according to the statement
