Saudi Arabia trimmed the price of its flagship crude for Asian buyers as talks progress on an agreement to ease shipping pressure in the Strait of Hormuz. A pricing schedule showed Saudi Aramco cut Arab Light for next month’s Asia cargoes by $0.50/bbl to $2.00/bbl below the regional benchmark. The cut comes despite Houthi threats to Red Sea eastbound oil routes. A prior survey had shown traders expected Aramco to keep its flagship price unchanged. Brent has slid sharply this week, trading near $

Saudi Arabia trimmed the price of its flagship crude for Asian buyers as talks progress on an agreement to ease shipping pressure in the Strait of Hormuz. A pricing schedule showed Saudi Aramco cut Arab Light for next month’s Asia cargoes by $0.50/bbl to $2.00/bbl below the regional benchmark. The cut comes despite Houthi threats to Red Sea eastbound oil routes. A prior survey had shown traders expected Aramco to keep its flagship price unchanged. Brent has slid sharply this week, trading near $80/bbl.