Cargo ships

Saudi Arabia Cuts Price of Benchmark Oil Grade to Asia

Bloomberg5 October 2026, 07:34 UTCSaudi Arabia

Energy Aspects founder Amrita Sen says the increased cost of shipping is the reason why Saudi Arabia cut prices of its benchmark grade to Asia. "It's costing about $30 per barrel right now to move oil from Hormuz to Asia," she tells Bloomberg Television. "The biggest issue is ship-to ship," she adds. (Source: Bloomberg)

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