Houthi Crisis Restricts Shipping in the Bab el-Mandeb Strait, Saudi Arabia Raises Oil Prices to Record Premium Level

BlockBeats News, April 6th, as Iran nearly closed the Strait of Hormuz, restricting regional energy shipments, and the uncertainty of the conflict's duration caused market turbulence, Saudi Arabia has raised its official selling price for its main Asian-bound crude oil by $17 per barrel compared to last month, reaching a record high premium level over Oman/Dubai's average price. Saudi Aramco has set the official selling price for its May-bound Asian exports of Arab Light crude oil at a premium of $19.50 per barrel over Oman/Dubai's average price, up $17 per barrel from the previous month.