DME Oman settles below $100 per barrel
Singapore, April 15, 2013
DME Oman's front-month June contract settled below $100 per barrel for the first time since July, trailing international oil futures lower, as China's first-quarter growth data revived global demand worries.
The flat price for the front-month contract fell $2.33 to $99.32 per barrel, according to data from the Dubai Mercantile Exchange.
The front-month contracts for Brent and U.S. crude were trading more than two dollars lower after data showed China's economic growth slowed to 7.7 percent in the first quarter from 7.9 percent hit in Q4 2012.
DME's premium to Dubai, however, firmed slightly to $1.19 per barrel from $1.11 on Friday. – Reuters
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