Saudis Raise Oil Price to Record Premium as War Riles Markets

Saudi Arabia raised the price of its main oil grade to Asia to a record high premium, as a widening conflict in the Middle East and Iran’s near-closure of the Strait of Hormuz convulse energy markets. State oil producerSaudi Aramcoincreased flagshipArab Light crudefor sales next month to a premium of $19.50 over regional benchmarks for refiners in Asia, according to a price list seen by Bloomberg. Still, it was about half the levelanticipatedBloomberg Terminalin a survey compiled by Bloomberg, with this month particularly hard to gauge given volatile Middle East indexes since the war and a plu