The front month oil contract on ICE fell below the 73 mark this morning, extending yesterday’s losses which brought Brent crude down 1.57 to a settlement price of 73 sharp.
Oil prices dropped sharply on Monday and continue to drop this morning.US crude oil for June lost 1.84 to settle at USD 73.33/barrel, and was last seen down 0.28 at 73.05. Crude oil futures markets have by now been in contango for more than 12 months, with the December contract being settled at 76.03 on Monday and Brent crude for the same month seen 1.53 higher than the June contract.
Dienstag, 25.04.2006, 08:11 Uhr
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