November Arab Light crude price set at $5 below Oman and Dubai, Rory Johnston notes

November Arab Light crude price set at $5 below Oman and Dubai, Rory Johnston notes
November Arab Light set at record discount

Rory Johnston highlights that Saudi Arabia has set the November official selling price for Arab Light crude oil to Asia at $5 a barrel below the average of Oman and Dubai prices, marking a $3 reduction from the previous month.

Johnston also notes the discount for November is the deepest so far, amid offensively high shipping costs and a possible strategy to target higher sales volume.

Earlier, Johnston reported that diesel prices surged as crack spreads reached record highs, making U.S. diesel as expensive as Brent crude. He also covered Brent crude falling below $100 per barrel for the first time since the pipeline attack. These previous developments reflect significant recent shifts in crude and related product pricing.

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