Oil prices continue negative trend today

Oil prices on the Tokyo Stock Exchange today, down almost 1%

In brief: Commodity markets once again began to decline against the background of a general concern of investors. Oil prices have fallen.

Oil prices remain at the mercy of the bears. The level of support from the bulls is negligible. Prices for oil futures Middle East Crude Oil for Tokiyskoy Commodity Exchange (TOCOM) today dropped almost 1%. As a result of trades on June 23 TOCOM official price of the most active futures transaction (November) amounted to 44.270 (-0.410) thousand yen per kl (about 77.88 dollars per barrel.).

Active contract price established in “contango” about the contract price Middle East Crude Oil for the current calendar month, which now amounted to 42.750 (-0.220) thousand yen / kl (about 75.21 dollars per barrel.). Middle East Crude Oil, presented a mixture of oil grades Dubai and Oman, is considered a benchmark price for the oil market in the region of the Middle East. On TOCOM futures Middle East Crude Oil traded since September 2001. The contract is a settlement – physical delivery of oil futures is not provided. Closure of the positions by the end of the calendar month with the calculation of variation margin, based on the average monthly price of oil mixture Middle East Crude Oil, which determines the agency Platts.

Ukrainian Globalist
2010-06-23 08:04, Commodities.

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