Oil prices falter as Saudi Arabia cuts crude prices Oil prices falter as Saudi Arabia cuts crude prices

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Petroleum, petrodollar and crude oil concept : Pump jack and a black barrel on US USD dollar notes, depicts the money received or earned from sales after investment in the development of oil industry.

William_Potter

Crude oil prices took a tumble of approximately 1% on Monday, following Saudi Arabia’s decision to slash the February selling price of its key Arab Light crude to Asian customers. The move comes amidst a backdrop of burgeoning supply, intensifying competition, and qualms over demand.

Saudi Arabia recalibrates pricing strategy

Front-month Nymex crude (CL1:COM) for CO1:COM

Global pressures weigh on crude values

U.S. emerges as an appealing alternative

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