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Dated Brent: Apr 2 - May 24, 2012, plus key trends


By Olivier Lejeune in London


Dated Brent (mean $/barrel): Apr 2 - May 24, 2012


Key Trends: Dated Brent


  • Dated Brent hit a 3.5 year high in March, buoyed by political tensions between the West and Iran and lower production in many countries.
  • It has since declined to its lowest level since late January due to fears about the economy, but remains well above $100/barrel
  • North Sea crude production declined sharply last year and is forecast to continue falling this year

Trends continue below...


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  • Production of the benchmark Brent, Forties, Oseberg and Ekofisk crude grades below 1 million barrels/day since February 2012 due to unplanned outages
  • Brent curve almost continuously backwardated since March 2011, hitting European refiners’ profit margins hard
  • More and more North Sea crude exported to South Korea since December 2011 following EU-Korea trade agreement


Additional crude oil price charts:

Urals CIF Mediterranean; plus key trends
ESPO FOB Kozmino Mo01 Singapore; plus key trends
Oman blend futures, Dubai physical crude
Qua Iboe FOB Nigeria





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