{"id":14340,"date":"2026-04-06T14:34:08","date_gmt":"2026-04-06T11:34:08","guid":{"rendered":""},"modified":"2026-04-06T14:34:08","modified_gmt":"2026-04-06T11:34:08","slug":"saudi-arabia-raises-asia-crude-prices-to-record-high-amid-strait-of-hormuz-closure","status":"publish","type":"post","link":"https:\/\/harici.com.tr\/en\/saudi-arabia-raises-asia-crude-prices-to-record-high-amid-strait-of-hormuz-closure\/","title":{"rendered":"Saudi Arabia raises Asia crude prices to record high amid Strait of Hormuz closure"},"content":{"rendered":"

Saudi Arabia has raised the price of its primary crude grade for Asia to record levels as Iran\u2019s near-total closure of the Strait of Hormuz restricts regional energy flows and market uncertainty over the duration of the conflict continues to rattle investors.<\/p>\n

According to a price list obtained<\/a><\/span> by Bloomberg, state oil producer Aramco will increase its flagship Arab Light crude prices for May sales to a premium of $19.50 above the benchmark for Asian refiners.<\/p>\n

This figure is lower than the $40 per barrel premium expected by traders and refiners in a Bloomberg survey.<\/p>\n

The war involving the US and Israel against Iran has upended global energy markets, with Tehran effectively shutting the vital Strait of Hormuz and cutting off supplies from its neighbors in the Persian Gulf.<\/p>\n

Brent crude has surged by more than 50%, sending fuel prices to peak levels from the US to Europe and Asia.<\/p>\n

According to shipping analysts and traders, oil tanker capacity on the US Gulf Coast has dropped<\/a><\/span> sharply in recent weeks as refiners in Asia and Europe, deprived of Middle Eastern supplies, scramble for vessels to import oil and fuel from the US.<\/p>\n

The war with Iran has halted tanker movements through the Strait of Hormuz, restricting oil flows from the Middle East to Asia and Europe and forcing refiners in these regions to purchase replacement crude from the US, Brazil, and West Africa.<\/p>\n

Speaking to Reuters, Aristidis Alafouzos, CEO of Okeanis ECO Tankers, stated that the deeper discounts of US crude compared to the global benchmark Brent have driven up tanker demand on the US Gulf Coast and reduced the supply of vessels in the region.<\/p>\n

Last Wednesday, June delivery US West Texas Intermediate (WTI) crude futures were trading at a discount of more than $10 relative to June Brent futures.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi Arabia has raised the price of its primary crude grade for Asia to record levels as Iran\u2019s near-total closure of the Strait of Hormuz restricts regional energy flows and market uncertainty over the duration of the conflict continues to rattle investors. According to a price list obtained by Bloomberg, state oil producer Aramco will […]<\/p>\n","protected":false},"author":1,"featured_media":14342,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[1],"tags":[17708,17710,1438,9476,7308,4054,288,812,7701,17711,2769,679,16088,10763,821,17709,5950],"class_list":["post-14340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middleeast","tag-arab-light","tag-aristidis-alafouzos","tag-asia","tag-brent-crude","tag-crude-oil","tag-energy-markets","tag-iran","tag-israel","tag-oil-tankers","tag-okeanis-eco-tankers","tag-persian-gulf","tag-saudi-arabia","tag-saudi-aramco","tag-strait-of-hormuz","tag-us","tag-us-gulf-coast","tag-wti"],"yoast_head":"\nSaudi Arabia raises Asia crude prices to record high amid Strait of Hormuz closure - Harici<\/title>\n<meta name=\"description\" content=\"Saudi Arabia hikes Asia oil prices to record highs as Iran's closure of the Strait of Hormuz disrupts global energy supplies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/harici.com.tr\/en\/saudi-arabia-raises-asia-crude-prices-to-record-high-amid-strait-of-hormuz-closure\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi Arabia raises Asia crude prices to record high amid Strait of Hormuz closure - 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