Noteworthy: oil markets: Saudis abandon WTI price as benchmark

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Jackson Thies;
  • Subject: Petroleum industry and trade ; Petroleum products - Prices ; Saudi Arabia

Saudi Arabia's state-owned oil company no longer uses West Texas Intermediate (WTI) crude oil as its pricing benchmark. Saudi Aramco, the third largest U.S. oil supplier, switched to the Argus Sour Crude Index (ASCI) in January.
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