Strong economic data from the US, combined with a weaker dollar relative to other currencies, helped prop up oil prices. Atlantic basin marker North Sea Dated was up by $2.56/bl to $68.98/bl in the week to 27 May. Ice July Brent rose by $4.35/bl, settling at $69.46/bl on 27 May ahead of expiry — the front-month Brent contract has not settled above $70/bl in two years. US marker July WTI was $4.91/bl higher at $66.85/bl, while Mideast Gulf benchmark July Dubai climbed by $2.81/bl to $67.66/bl.
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