Saudi Arabia's new method of pricing oil bound for the United States reflects the world's growing reliance on sour crude, which is harder to refine.
The sour grades of crude may eventually displace tried-and-true light, sweet crude to become a benchmark.
That could help producers and refiners manage risk as they deal with increasing volumes of higher-sulfur oil, and it may also cut speculators' influence on oil prices, analysts said.
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