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Arab Crude Differentials Fall Sequentially Versus Various Benchmarks in July

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The differential for all Arab crude oil grades on free-on-board basis dropped for July across all markets, state energy company Saudi Aramco said on Monday.

Arab Extra Light grade crude oil differential versus Argus Sour Crude Index headed towards North America dropped to $13.95 for July, from $15.95 for June and is $1.35 above Arab Light.

The differential for Light grade crude to be shipped to North America versus ASCI is $12.60 for July, down from $14.60 for June. The differential for Medium grade crude oil versus ASCI is $11.40 for July, down from $13.40 for June and is $1.20 below Light.

The differential for Heavy grade crude oil versus ASCI is $10.65 for July, down from $12.65 for June and is $1.95 below Light.

The differential for Extra Light grade versus ICE Brent headed towards North West Europe is $17.45 for July, down from $27.45 for June and is $1.60 above Arab Light. The differential for Light Grade crude oil versus ICE Brent is $15.85 for July, down from $25.85 for June.

The differential for Medium Grade crude oil for North West Europe versus Brent is $15.05 for July, down from $25.05 for June and is $0.80 below Light. The differential for Heavy Grade versus Brent is $12.65 for July, down from $22.65 for June and is $3.20 below Light.

The differential for Super Light Grade crude oil versus Oman/Dubai bucket benchmark for the Asian market is $11.15 for July, down from $17.15 for June and is $1.65 above Light. The differential for Extra Light Grade crude oil versus Oman/Dubai is $10.00 for July, down from $16.00 for June and is $0.50 above Light.

The differential for Light Grade crude oil versus Oman/Dubai is $9.50 for July, down from $15.50 for June, while the differential for Medium Grade crude oil versus Oman/Dubai is $7.75 for July, down from $13.75 for June.

The differential for Heavy Grade crude oil going to Asian markets versus Oman/Dubai is $6.40 for July, down from $12.40 for June and is $3.10 below Light.

The differential for Extra Light Grade crude oil targeted for Mediterranean markets versus Oman/Dubai is $17.35 for July, down from $27.35 for June and is $1.70 above Light. The differential for Light Grade crude oil versus Oman/Dubai is $15.65 for July, down from $25.65 for June.

The differential for Medium Grade crude oil for Mediterranean versus Oman/Dubai is $15.05 for July, down from $25.05 for June and is $0.60 below Light. The differential for Heavy Grade crude oil versus Oman/Dubai is $12.35 for July, down from $22.35 for June and is $3.30 below Light.

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