[JPX Energy] Dubai crude extends strong gains on higher US and European crude prices (morning of the 19th) (Jiji Press)

The story

Dubai crude oil futures on the Tokyo Commodity Exchange extended their strong gains. The opening price for the benchmark contract was up ¥2,640 from the previous weekend and stood at ¥96,350.

Buying led the market after crude oil futures in the US and Europe surged amid concerns over developments in the Middle East and the Russia-Ukraine situation.

There were no trades in electricity, gasoline, LNG or Osaka Exchange CME crude oil index futures.

At a glance

TimingOpening price of the March 2027 contract, the benchmark contract month: ¥96,350, up ¥2,640 from the previous weekend

BackgroundDubai crude oil futures were bought following sharp gains in the US and European oil markets

FeaturesExtended strong gains, with buying leading the market

MarketConcerns over developments in the Middle East and the Russia-Ukraine situation had an impact

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