Saudi Aramco cuts Arab Light crude price for Asia as Hormuz talks progress

Saudi Aramco announced a 50‑cent‑per‑barrel reduction in the price of its Arab Light crude for deliveries to Asian customers next month, bringing the price $2 below the regional benchmark. The cut, one of the lowest set by the kingdom since 2000, comes amid expectations that a tentative Iran‑Oman agreement could reopen the Strait of Hormuz to greater tanker traffic.

The price move follows a recent slump in Brent crude toward $80 a barrel and reflects Saudi efforts to keep Asian demand stable while navigating heightened shipping risks from Houthi attacks in the Red Sea. CEO Amin Nasser said the company remains able to sustain its export volumes, relying on the Yanbu port and an east‑west pipeline to bypass the contested waterway.