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

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DUBAI, April 4 (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.

UNITED STATES (versus ASCI)

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APRIL MAY CHANGE

EXTRA LIGHT +1.50 +1.60 +0.10

LIGHT +0.95 +0.85 -0.10

MEDIUM +0.25 +0.15 -0.10

HEAVY -0.20 -0.30 -0.10

Prices at Ras Tanura destined for Northwest Europe are set against ICE Brent:

NW EUROPE

APRIL MAY CHANGE

EXTRA LIGHT -1.90 -1.90 0.00

LIGHT -2.20 -2.40 -0.20

MEDIUM -2.60 -2.60 0.00

HEAVY -3.10 -3.10 0.00

Saudi term crude supplies to Asia are priced as a differential to the Oman/Dubai average:

ASIA

APRIL MAY CHANGE

SUPER LIGHT +2.35 +2.55 +0.20

EXTRA LIGHT +1.20 +1.60 +0.40

LIGHT +1.40 +1.80 +0.40

MEDIUM +0.95 +1.45 +0.50

HEAVY +0.30 +0.80 +0.50

Prices at Ras Tanura for Saudi oil destined for the Mediterranean are set against the ICE Brent:

MEDITERRANEAN

APRIL MAY CHANGE

EXTRA LIGHT -1.10 -1.40 -0.30

LIGHT -1.90 -2.10 -0.20

MEDIUM -2.50 -2.50 0.00

HEAVY -3.20 -3.20 0.00

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Reporting by Maher Chmaytelli

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