Saudi Arabia hiked the price of its flagship crude to Asia by the most in more than two years as the kingdom responds to surging premiums for Middle Eastern crude and improving refinery margins.

Oil prices edged up on Thursday after Saudi Arabia raised prices for March. However, the previous day’s decline in benchmark Brent prices was the largest in almost three months, and the increase was insignificant in comparison.

Top oil exporter Saudi Arabia may raise crude prices for Asian buyers in March to their highest in more than a year after benchmark prices spiked on higher demand from China and India as U.S. sanctions disrupted Russian supply,

Saudi Arabia is expected to significantly raise its official selling prices for crude oil to Asia in March due to tightening supply and rising benchmark prices.

The president says lower prices could solve a range of problems, but finds early resistance in the oil market.

President Trump's latest round of tariffs will target Canadian energy and oil (CL=F, BZ=F) imports, which could have a broader effect on gasoline (RB=F) prices; gas prices tick down on Monday amid reports that Canada is putting together a set of retaliatory tariffs of its own.

Pakistan has signed an agreement with the Saudi Fund for Development to defer a $1.2 billion payment on the country's oil imports by one year

State oil producer Saudi Aramco (TADAWUL:2222) has increased the price of its Arab Light oil to Asia for March by $2.40 a barrel. This adjustment, the largest since August 2022, surpasses the $2 increase that traders and refiners had anticipated,