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Saudi Arabia increases Arab light crude oil price to Asia in May

DUBAI (Reuters) - Saudi Arabia increased the price of its Arab light crude for the Asian market by $0.4/barrel in May, compared to April, and lowered those for the U.S. and European markets by $0.1/barrel and $0.2/barrel respectively, according to a statement from oil producer Saudi Aramco.

It set the Arab light price for Asia at +$1.8/barrel versus Oman/Dubai average, at +$0.85/barrel versus ASCI for the U.S. and at -$2.4/barrel versus ICE Brent for Europe, the company said.

Reporting by Maher Chmaytelli; Additional reporting by Ghaida Ghantous; Editing by Frances Kerry

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