Saudi Arabia to cut prices for crude oil sold to Asia due to weaker fuel oil margins

MG News | January 03, 2019 at 10:45 AM GMT+05:00

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January 3, 2019 (MLN): Volatile currency and stock markets continued to dominate oil prices on Thursday, along with fears of an economic slowdown expected this year.

Moreover, Saudi Arabia is expected to cut prices in February for crude oil sold to Asia by up to 50 cents a barrel due to weaker fuel oil margins, respondents to a Reuter’s survey said on Thursday.

U.S. West Texas Intermediate (WTI) crude oil futures dropped by around 2 percent from their last closing, or 93 cents, to $45.61, whereas International Brent crude futures fell by 1.1 percent, or 60 cents, at $54.31 a barrel.

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KSE100	159,096.79 286.00M	-0.30% -481.40
ALLSHR	96,671.31 956.17M	-0.27% -260.40
KSE30	48,148.75 102.85M	-0.46% -220.17
KMI30	227,277.27 68.51M	-0.56% -1278.41
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BKTi	44,327.12 35.20M	-0.45% -200.35
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Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	102,990.00	104,590.00 102,790.00	-1250.00 -1.20%
BRENT CRUDE	63.98	64.34 63.37	0.46 0.72%
RICHARDS BAY COAL MONTHLY	87.25	87.25 87.25	0.10 0.11%
ROTTERDAM COAL MONTHLY	97.00	97.00 96.50	-0.20 -0.21%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.12	60.51 59.46	0.52 0.87%
SUGAR #11 WORLD	14.29	14.30 14.04	0.18 1.28%