Middle East Crude-Market steady; Saudi expected to raise OSPs
 

In coming days top oil exporter Saudi Arabia is expected to raise prices for grades exported to Asia due to robust demand for its crude and higher domestic consumption in the summer months. The OSP for its flagship Arab Light could flip into a small premium to Oman/Dubai quotes for the first time since last September, one trader said. Traders expected a strong fuel oil market to drive a bigger increase in the OSP for Arab Heavy.

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