The March ICE contract for Brent crude delivery fell 13¢ to close at $106.35/bbl in Jan. 20 trading on the London market while the New York Mercantile Exchange in New York was closed for the Martin Luther King Jr. holiday.
The Organizational of Petroleum Exporting Countries reported its basket of 12 benchmark crudes was $104.24/bbl on Jan. 20, which was up 19¢ from the previous trading session.
On Jan. 7, the US Energy Information Administration issued a monthly Short-Term Energy Outlook saying North Sea Brent crude oil spot price in December averaged near $110/bbl for the sixth consecutive month. The report was the first time EIA outlined its 2015 forecasts.
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Source: OGJ Editors (www.ogj.com)
