MARKET WATCH: Brent oil for August tops $64/bbl
Mixed trading continued for a second consecutive day June 25 with light, sweet crude oil prices for August and September contracts falling slightly on the New York market to hold under $57/bbl while Brent crude oil prices for August settled above $65/bbl in London.
US oil futures had gained for three sessions before declining on June 25, which analysts attributed to escalating US-Iran tensions. US Security Adviser John Bolton said from Israel that talks remain possible, adding US officials are leaving an “open door” for Iran.
Meanwhile, oil investors await news from a meeting between US President Donald Trump and Chinese President Xi Jinping expected to take place during the G20. That meeting is separate from the official G20 schedule.
Energy prices
Light, sweet crude oil on the New York Mercantile Exchange for August delivery dropped 7¢ to $57.83/bbl on June 25 while the September contract fell 4¢ to settle at $57.89/bbl.
NYMEX natural gas for July gained a fraction of a penny to a rounded $2.31/MMbtu.
Ultralow-sulfur diesel for July rose 1¢ to $1.92/gal. The NYMEX reformulated gasoline blendstock for July increased 2¢ to a rounded $1.87/gal.
Brent crude for August added 19¢ to $65.05/bbl. The September price increased 10¢ to settle at $64.28/bbl.
The gas oil contract for July gained $9.25 to $589/tonne on June 25. The average for OPEC’s basket of crudes was $64.79/bbl on June 25, down 26¢.
Contact Paula Dittrick at [email protected].
About the Author
Paula Dittrick
Senior Staff Writer
Paula Dittrick has covered oil and gas from Houston for more than 20 years. Starting in May 2007, she developed a health, safety, and environment beat for Oil & Gas Journal. Dittrick is familiar with the industry’s financial aspects. She also monitors issues associated with carbon sequestration and renewable energy.
Dittrick joined OGJ in February 2001. Previously, she worked for Dow Jones and United Press International. She began writing about oil and gas as UPI’s West Texas bureau chief during the 1980s. She earned a Bachelor’s of Science degree in journalism from the University of Nebraska in 1974.