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Saudi Arabia's Saudi Aramco raised its light crude oil prices to Asia and the U.S. For Asia buyers it raised its crude price by $1.00 to $2.10 over the Persian Gulf benchmark. It raised the premium it charges U.S. customers by 40 cents a $1.35 a barrel over Argus Sour Crude Index.
Saudi Arabia, the largest member of OPEC decided to leave production quotas unchanged. Most of the Persian Gulf States are increasing production to take advantage of higher prices.
Continue reading Saudi Arabia Raises Oil Prices to Asia and U.S. Buyers
Today's lack of a rally came with little surprise. The massive gains yesterday were reminders of the panic buying seen in the past. Profit takers used the strength to unload on the new buyers who chased stocks yesterday. Continue reading Closing Bell: Profit taking beats the bull (AGN, AIG, DOW, GS, LVS)
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