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Saudi Arabia raises its oil price for Asia

Saudi Arabia raises its oil price for Asia

Saudi Arabia raises its oil price for Asia

Apr 06, 2026

This represents a $17 increase compared to the previous month, according to a pricing document seen by Reuters.This sharp price hike comes at a time of unprecedented turmoil in global energy markets, stemming from the military escalation in the Gulf region and the closure of the Strait of Hormuz. This has led to a decline in oil supplies and a surge in demand for alternative energy sources.Saudi Arabia's increase in official selling prices indicates Riyadh's expectation of continued pressure on oil markets. Asian countries are suffering from severe energy shortages, prompting some to seek alternative sources.