SAUDIS SLASH ASIA OIL PRICE TO 6-YEAR LOW

Saudi Aramco cut its November Arab Light price for Asia to $5 a barrel below the Oman/Dubai average, a $3 reduction from October and the widest discount since June 2020. At the same time, Aramco raised Northwest Europe prices by $3 a barrel after resuming Red Sea exports from Yanbu. The split pricing shows Aramco defending market share in Asia as $USO traders weigh softening demand against OPEC+ supply plans.