WORLD OIL PRICES (July 11-15, 2016 trading days)
Oil prices initially dropped on the start of the week on worries about global oil supply and stronger US dollars. Additional factors that contributes to the price fall is the rising of U.S oil drilling rig counts and bullish hedge on crude to four- months lows.
WORLD OIL PRICES (July 4-8, 2016 trading days)
Dubai crude prices rose Monday by almost a dollar on weaker dollar that lent support to the commodity and amid subsiding fears about the Brexit referendum’s impact on crude demand. Gains were somehow limited as the US dollar recovered over the week, and as many analysts stressed that Britain’s economy is too small for an economic slowdown that could cut oil demand growth substantially.
WORLD OIL PRICES (June 27-July 1, 2016 trading days)
Oil prices initially dropped early this week after Britain voted to leave the European Union that sparked a sharp selloff in global markets, and amid heightened concerns about the global economy and a winding path ahead for Europe. But views were mixed on its likely long-term market impact.
Click to open the OPPC Model on Gasoline and Diesel
Prepared by : Engr. Marcial T. Ocampo
