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Commodities Briefing - Categorized | Oil, Price Watch more

Crude oil prices rise on higher seasonal demand

Posted on 22 July 2013

Crude oil prices climbed higher in early July, after trading broadly flat through May and June. The price of Kuwait Export Crude (KEC) rose from a trough of $97 per barrel (pb) in late June to $103 by July 12th. Similarly, Brent crude prices climbed by some $9 to $109 — its highest level since early April. Both crudes are still some $11 off their February peaks.
Meanwhile, West Texas Intermediate (WTI) — the main US benchmark blend — accelerated by some $12 to $106, exceeding the $100 mark for the first time since May of last year. In the process, the Brent-WTI spread narrowed to its lowest in two and a half years……………………………………….Full Article: Source


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