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Monday, November 9 - 2009

Crude oil price fall continues

  • Middle East: Sunday, November 16 - 2008 at 10:36

The Chicago Board of Options Exchange is now seeing business in $30 a barrel (Dhs110.22), or options to sell oil at $30. Brent, against which 60% of the world's crude is priced, is now $53.85, while the Dubai Mercantile Exchange's Oman futures contract, which the previous week stood at $56.17 for the OSP, now sits at $48.30, anticipating a Far East economic slowdown from reductions in exports to Western consuming nations.

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