Average Dubai crude oil price rises in July to $72.903/bbl -sources

Highest since October 2018

  
Cars queue for petrol at a gas station in Dubai June 11, 2012. Image for illustrative purposes.

Cars queue for petrol at a gas station in Dubai June 11, 2012. Image for illustrative purposes.

REUTERS/Ghazal Watfa

SINGAPORE- Middle East crude benchmark Dubai, as quoted by price-reporting agency S&P Global Platts, rose to an average of $72.903 a barrel in July, trade sources said on Monday, the highest since October 2018.

The monthly averages for June for Dubai and Oman as quoted by Platts are indicated in the table. Middle East producers set their monthly official selling prices (OSPs) at premiums or discount to these averages.

Saudi Aramco changed the benchmark for setting its official selling prices to Asia starting from October 2018 to the average of Platts Dubai and DME Oman crude futures. 

(Reporting by Florence Tan; Editing by Rashmi Aich) ((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))


More From Commodities