Otmane El Rhazi from Investor's Business Daily - Investing RSS.
West Texas intermediate dropped to the lowest level in more than two years after Saudi Arabia reduced the cost of its oil to U.S. customers in the face of soaring North American output. Futures tumbled 2.2% in New York. Saudi Arabian Oil Co. cut prices for all grades to the U.S., the company said today in an emailed statement. The state-owned producer, known as Saudi Aramco, will sell Arab Light to clients in Asia for 10 cents
West Texas intermediate dropped to the lowest level in more than two years after Saudi Arabia reduced the cost of its oil to U.S. customers in the face of soaring North American output. Futures tumbled 2.2% in New York. Saudi Arabian Oil Co. cut prices for all grades to the U.S., the company said today in an emailed statement. The state-owned producer, known as Saudi Aramco, will sell Arab Light to clients in Asia for 10 cents
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