Futures in New York dropped after Saudi Aramco reduced its key Arab Light grade more than expected for shipments to Asia, a signal that fuel consumption in the largest oil-importing region is wavering.
LONDON: Oil extended its retreat below US$40 a barrel after Saudi Arabia cut pricing for October crude sales as demand stuck below pre-Covid levels.
Futures in New York dropped after Saudi Aramco reduced its key Arab Light grade more than expected for shipments to Asia, a signal that fuel consumption in the largest oil-importing region is wavering.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
