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Commodities Briefing - Categorized | Oil, Price Watch more

OPEC crude basket ends longest-ever stretch above $100 a sarrel

Posted on 17 April 2013

The average price of benchmark OPEC crudes ended its longest run above $100 a barrel after dropping below that level for the first time since July amid signs the global economic recovery is faltering.
The so-called OPEC basket, a weighted average of the main grades produced by the Organization of Petroleum Exporting Countries, slipped to $98.56 a barrel yesterday, according to an e-mail today from the group’s Vienna-based secretariat. It’s the first time OPEC’s reference price slipped below $100 since July 16 and ends an unprecedented 191-day spell above that threshold…………………………………….Full Article: Source


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