The front-month Brent/Dubai Exchange of Futures for Swaps (EFS) contracted by 18￠/bbl over the week to reach positive-35￠/bbl on June 12. From June 5 to June 11, the price for OPEC's basket of crudes edged lower by 28￠/bbl to bit $36.55/bbl. (As of the time of writing, OPEC had not posted its basket price for June 12.) The cash price for Dubai crude lost $2.20/bbl over the week to end at $38.45/bbl, while Murban fell by $1.99/bbl over the week to end Friday at $43.82/bbl.
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