Saudi shift from price war has Asian oil buyers stewing over rise

The price increase was a surprise to Asian customers who were expecting another cut. FMTNews OilBuyers PriceWar

SINGAPORE: Saudi Arabia’s boost to prices of most of its oil is signalling an end to a destructive price war, but it’s left Asian buyers less than impressed.

Buyers will be informing Aramco of their requests such as import volumes, grades, loading dates — a process known as nomination — by Friday. In China, Asia’s biggest crude importer, processing rates led by independents refiners rebounded as more motorists took to the streets and factories resumed operations. India’s fuel use is also seeing a slight gain this month.

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