Saudi Arabia to significantly increase oil prices for Europe in July

Saudi Arabia will increase prices for all grades of oil for European buyers by $1.8 per barrel in July.

This was announced by the state company Saudi Aramco.

As a result, Arab Light fuel for customers from Northwestern Europe will become more expensive than Brent by $3.25 per barrel, and from the Mediterranean - by $3.05 per barrel.

At the same time, "light" grades of oil for buyers from Asian countries will become cheaper next month by $0.2 per barrel. Thus, Arab Light will cost $1.2 more than the Oman/Dubai oil basket, which is close to the minimum level in the last four years.

Prices for "light" oil for the US will decrease by $0.1 per barrel, for other grades - will remain unchanged.