Oil rises after Aramco raises crude selling price – Reuters

Oil rises after Aramco raises crude selling price – Reuters

TOKYO, Nov 8 (Reuters) - Oil prices rose on Monday after Saudi Arabia's state-owned oil producer Aramco raised the official selling price for its crude, suggesting demand remains strong at a time of tighter supplies.

Brent crude was up by 90 cents or 1.1% at $83.64 a barrel, after dropping nearly 2% last week. U.S. oil gained 87 cents or 1.1% to $82.14, having declined almost 3% through Friday.

Aramco late on Friday raised its December official selling price to Asia for its Arab light crude to $2.70 a barrel versus Oman/Dubai crude, up $1.40 from this month. read more