Crude oil tests $95 per barrel; Saudi Arabia increases oil prices

Saudi Arabia raised oil prices for customers in Asia, the US and Europe after crude’s surge to almost $95 a barrel.

State firm Saudi Aramco increased all grades for its main market of Asia in March. The company raised its key Arab Light oil for the region by 60 cents from February to $2.80 per barrel above the benchmark it uses.

Other Asian grades jumped by between 40 and 70 cents a barrel. US prices were increased by 30 cents.

Brent crude has climbed around 20% in 2022 to more than $93 a barrel. Its rise has come as