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Saudi Arabia hikes oil prices as crude surges on Ukraine war
State-controlled Saudi Aramco hiked its Arab Light crude for next month's shipments to Asia to US$4.95 a barrel above the benchmark it uses.
That is an increase of US$2.15 a barrel from March and the highest premium for the key grade since Bloomberg started compiling data in 2000. The energy company had been expected to raise pricing by US$1.70, according to a survey of traders and refiners.
