Saudi Arabia may slash January crude prices for Asia
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Saudi Arabia is expected to significantly reduce crude prices for Asian buyers in January, following a decline in Middle East benchmark prices.
December 02, 2024 | 9:00 am
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The United States Brent Oil Fund (BNO) may experience price fluctuations due to Saudi Arabia's expected reduction in crude prices for Asia, reflecting a broader trend in Middle East oil pricing.
BNO, which tracks Brent oil prices, is likely to be impacted by Saudi Arabia's decision to lower crude prices for Asia. This move is in response to a decline in Middle East benchmark prices, which could lead to a decrease in Brent oil prices, affecting BNO's value.
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