Bloomberg reported that Saudi Arabian Oil Company raised October official selling prices for all oil grades for loading from Sidi Kerir in the Mediterranean.

The state owned producer, known as Saudi Aramco increased the formula prices for Arab Light and Arab Extra Light by USD 2.15 per barrel to the Brent weighted average, or BWAVE, posted by InterContinental Exchange Inc.

Arab Extra Light was set USD 2.65 premium to the benchmark and Arab Light at a discount of 20 cents. Aramco also raised the prices for Arab Medium and Arab Heavy by USD 2.20 and USD 2.40 per barrel respectively, they said.

The company raised prices for all grades to be shipped to customers in Asia, Northwest Europe and the Mediterranean next month and cut those for US buyers.

(Sourced from Bloomberg)