Crude slumps in May

摘要

Physical crude benchmark Dated Brent dropped from $119.19/barrel May 1 to $107.69/b May 28, despite the impending imposition of the EU oil embargo against Iran, which comes fully into force from July 1. NYMEX July crude oil futures settled down $1.95 to $89.90/b May 23, dropping below $90/b for the first time since November 1, 2011, before moving back slightly over $90/b.