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Oil glut meets rising demand in quietest market since 2013

Crude trades in US$5 range in June, the narrowest in 19 mths

Published Fri, Jul 3, 2015 · 09:50 PM

New York

THE sleepiest oil market since 2013 will probably limp through the second half of the year as well.

Crude traded in a US$5 range in June, the narrowest in 19 months. Volume was the lowest since December and open interest - the number of futures contracts outstanding - was the least since January. New York-traded futures, which have swirled around US$60 a barrel for the past two months, will average about US$59 in the third quarter and US$63 in the fourth, going by the forecasts of 22 analysts compiled by Bloomberg.

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Companies & Markets

Oil glut meets rising demand in quietest market since 2013

Energy & Commodities

Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains

Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early

Anglo rejects BHP takeover bid as significantly undervalued

India rice prices at three-month low on shrinking demand

Gold prices set for weekly decline ahead of US inflation data

Pricey coffee is here to stay as hoarding, heat hit Vietnam supply

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