Crude futures settled sharply lower Monday, despite Saudi Aramco’s decision to raise its official selling price differentials for Asian-bound crudes in December, snapping a four-month-long streak of slashing these closely watched figures. NYMEX December crude closed down 1.76 cents at $78.78/b, a low not seen since June 2012. Front-month ICE Brent settled $1.08 lower at $$84.78/b. NYMEX refined product futures also sold-off. December ULSD ended the session 2.1 cents lower at $2.4899/gal, while December RBOB closed down 3.02 cents at $2.1176/gal. In New York trading, NYMEX crude and ICE Brent futures intraday prices peaked around midday, coinciding with the release of the Saudi Aramco OSPs, before falling toward the session’s close. Saudi Aramco’s crude differentials have been scrutinized for signs of whether the […]