Saudi Arabia raises oil prices to Asia for third consecutive month, tightening oil market.

Saudi Arabia raises oil prices for all grades to Asia for a third consecutive month, tightening the oil market and preventing global surplus. State-owned Saudi Aramco increased June official selling price of Arab Light crude by 90 cents to $2.90/barrel above the regional Oman-Dubai benchmark. The move comes amid fading war risks in the Middle East, with most traders and analysts predicting OPEC+ will extend output curbs.