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Monthly Oil Market Report - July 2024
pdf In June, the OPEC Reference Basket (ORB) declined slightly by 37¢, or 0.4%, m-o-m, to average $83.22/b. The ICE Brent front-month contract was unchanged, m-o-m, at $83.00/b, while the NYMEX WTI front-month contract slightly increased by 8¢, or 0.1%, m-o-m, to average $78.70/b. The DME Oman front-month contract declined by $1.05, m-o-m, or 1.3%, m-o-m, to settle at $82.69/b. The front-month ICE Brent/NYMEX WTI spread narrowed in June by 8¢, m-o-m, to average $4.30/b. The price structure of ICE Brent and NYMEX WTI strengthened. Money managers turned less bearish about oil, as selling pressure eased. The world ... (full story)
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- Posted: Jul 10, 2024 8:03am
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 365
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