Page 28 - Policy Economic Report - June 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 19: Benchmark price of Brent, WTI and Dubai crude

125
100

75
50
25

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Brent Spot Price ($/bbl) WTI Spot Price ($/bbl) Dubai spot price ($/bbl)

Source- World Bank

• Brent crude price averaged $82.75 per bbl in June 2024, down by 0.6% on a month on month
(MoM) and up by 10.5% on year on year (YoY) basis, respectively.

• WTI crude price averaged $78.52 per bbl in June 2024, down by 0.6% on a month on month (MoM)
and up by 11.7% on year on year (YoY) basis, respectively.

• Dubai crude price averaged $81.89 per bbl in June 2024, down by 0.7% on a month on month
(MoM) and up by 11.7% on year on year (YoY) basis, respectively.

Table 3: Crude oil price in June, 2024

Crude oil Price ($/bbl) MoM YoY
(%) change (%) change
Brent 82.75
WTI 78.52 -0.6% 10.5%
Dubai 81.89 -0.6% 11.7%
Source- World Bank -0.7% 11.7%

JUNE 2024 Page | 27