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	185,916.20 209.90M	0.46% 854.09
ALLSHR	110,743.91 516.77M	0.46% 502.47
KSE30	57,287.11 118.38M	0.36% 207.07
KMI30	262,789.55 88.05M	0.80% 2088.40
KMIALLSHR	71,128.19 220.11M	0.66% 463.59
BKTi	54,313.24 48.97M	-0.32% -172.32
OGTi	36,299.39 17.04M	1.22% 435.92

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	92,810.00	94,190.00 92,495.00	15.00 0.02%
BRENT CRUDE	59.93	60.40 59.88	-0.77 -1.27%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	0.75 0.87%
ROTTERDAM COAL MONTHLY	99.50	99.50 98.00	1.65 1.69%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	56.17	57.09 55.76	-0.96 -1.68%
SUGAR #11 WORLD	14.76	14.83 14.62	0.03 0.20%