SINGAPORE: The Middle East crude benchmarks weakened further on Monday as traders closed their positions on the last trading day for this month.
Stronger than expected prices for Saudi supplies in September may support benchmarks next month, traders said.
SAUDI OSPS: Saudi Aramco has raised the September price for its Arab Light crude oil for Asian customers by $0.20 a barrel compared with the August price, to a discount of $0.25 a barrel to the Oman/Dubai average, a source with knowledge of the matter said on Monday.
Price increases for light grades were higher than expected while Arab Medium stayed unchanged. September Arab Heavy price posted a small decline as OPEC cuts and potential sanctions by the United States on Venezuela's oil sector could tighten heavy oil supplies.
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