Summary
- International oil markets recorded mixed movements on Thursday with prices of some major crude benchmarks declining while others posted gains.
- The latest figures highlight differing price movements across international crude benchmarks with Murban experiencing a notable decline while Brent recorded a modest increase.
- The contrasting trends indicate that the global oil market has yet to move in a uniform direction as individual crude benchmarks continue to record separate price movements.
International oil markets recorded mixed movements on Thursday with prices of some major crude benchmarks declining while others posted gains.
The UAE’s Murban crude registered the sharpest drop falling 5% to $95 per barrel reflecting a significant decline in its market value.
In contrast British benchmark Brent crude moved in the opposite direction gaining 1% to trade at $96 per barrel. The increase came as other major oil prices showed comparatively limited movement.
Meanwhile US West Texas Intermediate (WTI) crude remained unchanged at $88 per barrel maintaining its previous trading level.
The latest figures highlight differing price movements across international crude benchmarks with Murban experiencing a notable decline while Brent recorded a modest increase. WTI prices meanwhile showed no change.
