Saudi Armaco ditches WTI

Saudi Aramco yesterday announced it will begin using the Argus Sour Crude Index (ASCI) published by Argus Media as the benchmark price for all grades of crude oil sold to US customers – in a move away from WTI. Saudi Aramco has used WTI crude prices published by McGraw Hill's Platts as the benchmark for crude sales to the US since 1994.

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