Saudi slashes crude prices for Asia by record margin

Saudi slashes crude prices for Asia by record margin. Saudi Arabia cut the price of its flagship crude by $8/barrel, the largest drop in over 20 years, triggering a price war amid collapsing demand. This will sharply reduce input costs for Indian refiners and may boost margins for companies like Reliance and Nayara. However, it signals deeper global oversupply, potentially dragging down energy stocks.
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