SINGAPORE - Saudi Arabia has set its new prices for Arab Light crude for countries.

The Kingdom has set the price of Arab Light Crude Oil for March to the US, raising by 30 cents a barrel versus February to a premium of $2.45 a barrel versus ASCI (Argus Sour Crude Index), Saudi Aramco said,

Meanwhile, Saudi Arabia has also set its Arab Light crude selling price for March in Northwest Europe with an increase of $1.70 a barrel compared to February.

Saudi Aramco has raised all its types of crude oil prices that it sells to Asia in March versus February, as it comes in line with market expectations.

According to the sources, a pricing document on Saturday showed that Saudi Arabia, which is the largest oil exporter in the world, has raised the selling price of its Arab Light crude by 60 cents a barrel to Asian customers for the month of March compared to February, with an increase of $2.80 a barrel over the average price of its crude of Oman and Dubai.

The rise in prices made by the Kingdom reflected the increase in demand in Asia and stronger margins for gasoline and jet fuel. SG