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

By 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	131,949.07 198.95M	0.97% 1262.41
ALLSHR	82,069.26 730.83M	0.94% 764.01
KSE30	40,387.76 80.88M	1.11% 442.31
KMI30	191,376.82 77.76M	0.36% 678.77
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BKTi	35,828.25 28.42M	3.64% 1259.85
OGTi	28,446.34 6.84M	-1.02% -293.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,125.00	110,525.00 107,865.00	-2290.00 -2.07%
BRENT CRUDE	68.51	68.89 67.75	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.50	67.18 66.04	-0.50 -0.75%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%