Reports that Saudi has cut its oil prices to Europe, raised for the US

<p>Saudi Aramco kept its December official selling price (OSP) for Arab Light grade to Asia unchanged from November:</p><ul><li>OSP for Arab Light $4 a barrel over the Oman/Dubai average</li><li>a pause after five months of price hikes</li><li>price change is in line with market expectations, as refiners facing weak oil processing margins and supply uncertainties</li><li>raised Extra Light crude price to Asia for a third month, by 70 cents to $4.05 a barrel over Oman/Dubai quotes</li></ul><p>Saudi Aramco cut its December Arab Light OSP to northwest Europe by $2.30 a barrel to $4.90 a barrel above ICE Brent</p><ul><li>OSP of Arab Light to the United States was raised by $1.30 to $8.75 versus ASCI in December</li></ul><p>-</p><p>The <a href="https://www.zawya.com/en/mena" target="_blank" rel="nofollow">reports </a>cite two unnamed sources with knowledge of the matter</p>

This article was written by Eamonn Sheridan at www.forexlive.com.