Reuters
08 Jun 2026, 02:59 UTC · 9h ago
Saudi Arabia sharply cuts July OSP for Asia amid slow demand
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Reuters
08 Jun 2026, 02:59 UTC · 9h ago
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3 claims · impact-rated
Saudi Arabia cut its official selling prices (OSPs) for crude oil to Asia in July for the second consecutive month. — Price cuts by the world's leading exporter typically signal weakness in global demand and put downward pressure on crude benchmarks.
-0.60Supply disruptions have occurred driven by the U.S.-Israeli war with Iran. — Geopolitical conflict and supply disruptions typically create a risk premium that supports higher oil prices.
+0.50Spot premiums have eased due to slow demand. — Decreasing premiums reflect a lack of urgency among buyers, suggesting a bearish fundamental environment for energy prices.
-0.40Ticker attribution
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