Oil markets might be looking up, if Saudi’s official oil selling price actions are any indication—and they usually are. Saudi Arabia has raised the official selling price of its Arab Light crude oil sold to Asia for the month of November, according to Bloomberg . Saudi Arabia’s price hike of its flagship crude grade to its most prolific market is a sign that the market might be looking up—or at least that Aramco thinks it is looking up, as Asia refining markets increased over the last week of September. Asian refineries’ profit markets for jet fuel, in particular, have reached their highest levels in months, according to Reuters, as demand picks up in the runup to the winter months. Margins are still depressed, however, compared to usual margins, with Asian jet fuel demand expected to be 700,000 bpd lower in the fourth quarter than this time last year It […]