dollars a barrel on the New York Mercantile Exchange, while Brent crude
finished the week at 60.43 dollars a barrel on the London ICE Futures Exchange, swinging around the 60-dollar-level during the week,Trendreports citing Xinhua.
Reuters Brent crude
rose, but two-month futures traded lower for the first time in two months
Malaysian firm Petronas has offered a price of 11.7% of Brent crude
, Azerbaijan firm Socar has offered LNG supply at 11.8% of Brent crude
and Eni is offering LNG at 11.83% of Brent crude
rose by 5 cents, or 0.1%, to $70.16 a barrel, while US West Texas Intermediate (WTI) was up 50 cents, or 0.8%, at $59.12.
The forward price curve for Brent crude
futures remains in backwardation, in which prices for prompt delivery are higher than those for later dispatch, implying tight market conditions and making it profitable to produce and sell oil immediately rather than store it for later sale.
RIYADH: Brent crude
fell to $65.07 per barrel and WTI dropped to $55.80 at the close of the week, due to a third consecutive month of weak Chinese exports, and US crude imports reaching their lowest levels in 23 years.
and West Texas Intermediate has been on a recovery path since the start of the year.
By the end of 2019, the EFA said Brent crude
would be trading at $60.32 per barrel, or close to $9 more than its end-2018 forecast.
He pointed out that last year the Brent crude
oil price was at US$52 per barrel.
Singapore: Benchmark Brent crude
oil futures rose to as much as $83.32 a barrel on and were at $83.09 at 0335 GMT, still 36 cents, or 0.4 percent above their last close.
International benchmark Brent crude
traded at $78.45 per barrel at 07.09 GMT on Monday while American benchmark West Texas Intermediate (WTI) saw prices of $73.67 per barrel.
A generation later, Saudi Arabia abandoned its role of swing producer in November 2014 and Brent crude
prices plummeted from $115 in June 2014 to $28 by early 2016.