Saudi Arabia sets May Arab Light crude oil OSP to Asia at USD 19.50/bbl premium vs Oman/Dubai average (vs Bloomberg exp. of ~USD 40/bbl); a record premium, Bloomberg reports
Saudi Arabia's decision to set the May Arab Light crude oil official selling price (OSP) to Asia at a USD 19.50 per barrel premium over the Oman/Dubai average, significantly lower than the Bloomberg expectation of about USD 40, signals a shocking adjustment in pricing strategy.
[ANALYSIS] Iranian War Day 38: Trump warns Tuesday will be “Power Plant Day, and Bridge Day”
Iranian Deputy Minister of Foreign Affairs says "[US] should stop these threats - the effects of which will not be limited to Iran.", Tasnim reports
Saudi Arabia sets May Arab Light crude oil OSP to Asia at USD 19.50/bbl premium vs Oman/Dubai average (vs Bloomberg exp. of ~USD 40/bbl); a record premium, Bloomberg reports
Bank of Italy updates economic outlook released on 3rd April: CPI forecasts raised across the board
An explosion was heard in Kuwait, SNN reports
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This unprecedented premium will likely impact market dynamics, inflating costs for Asian buyers and potentially influencing oil prices globally, while also raising questions about OPEC's production strategy and pricing power moving forward.
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