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.

Jun 26th, 2019

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 pdittrick@endeavorb2b.com.

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