Aramco cut its August official selling price for Arab Light to Asian customers by $11/bbl, leaving the grade $1.50/bbl below the regional benchmark — the largest reduction in at least 26 years and larger than the $8/bbl expected in a survey. Middle East crude prices have fallen recently. After Ras Tanura (Persian Gulf) resumed exports, Aramco boosted shipments to about 90% of pre-war levels; exports had been routed to Yanbu on the Red Sea when the Strait of Hormuz was blocked. OPEC+ agreed a mod

Aramco cut its August official selling price for Arab Light to Asian customers by $11/bbl, leaving the grade $1.50/bbl below the regional benchmark — the largest reduction in at least 26 years and larger than the $8/bbl expected in a survey. Middle East crude prices have fallen recently. After Ras Tanura (Persian Gulf) resumed exports, Aramco boosted shipments to about 90% of pre-war levels; exports had been routed to Yanbu on the Red Sea when the Strait of Hormuz was blocked. OPEC+ agreed a modest output increase for August; with shipping via the Strait of Hormuz restored, Gulf producers including Saudi Arabia, Iraq and Kuwait can utilise higher quotas.