[Survey: Saudi Arabia to lower August Arab Light crude oil price to Asia by $8 per barrel] According to a report by Golden Finance, a median estimate from a survey of five traders and refining companies on June 29 indicates that Saudi Aramco may reduce the official selling price of Arab Light crude oil to Asia by $8 per barrel month-on-month in August. Market forecasts suggest the reduction range will be between $7 to $8 per barrel. If the August price cut is implemented, it will mark the third consecutive month of price reductions, potentially bringing oil prices back to levels seen at the onset of the Iran conflict. The premium for April Arab Light crude oil to Asia, finalized in early March, was only $2.50 per barrel.