By Will Horner

Saudi Arabia modestly raised prices for the benchmark crude variety it sells to buyers in Asia and the U.S. while adding more significantly to prices for European consumers.

Saudi Arabian Oil Co.--commonly known as Saudi Aramco--added $0.20 a barrel to March sales of the benchmark Arab Light crude sold to Asian buyers. The change means sales will carry a $2-a-barrel premium over the average of the Oman and Dubai benchmarks.

Aramco also raised prices of its Arab Light crude for customers in Northern and Southern Europe by $2 a barrel. The changes mean buyers in both Northern and Southern Europe will pay a $0.50 a barrel premium over the Brent crude benchmark.

For U.S. buyers, prices were raised by $0.30 a barrel, meaning sales to the U.S. will carry a $6.65 a barrel over the ASCI benchmark.

Write to Will Horner at william.horner@wsj.com

(END) Dow Jones Newswires

February 06, 2023 08:42 ET (13:42 GMT)