Saudi Arabia has once again reduced the price of crude oil it sells to Asia, with the premium for the flagship Arab Light at $2.20 a barrel over the Dubai/Oman benchmark for cargos to be delivered in October. The price cut amounts to $1 per barrel from September, which was above analyst expectations of a smaller cut between $0.40 and $0.70, Reuters reported. The prices of other Saudi grades were also cut for October, by between $0.90 and $1 per barrel. According to oil traders active in the Middle East and Asia, the price cut reflected expectations…
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