Dubai crude oil futures on the Tokyo Commodity Exchange extended their decline, with the benchmark contract settling at ¥75,330, down from the previous day. As the yen strengthened and the dollar weakened on expectations of a Bank of Japan rate hike, position-closing sales prevailed.
Dubai crude oil futures on the Tokyo Commodity Exchange extended their decline, with the benchmark February 2027 contract (sixth contract) settling at ¥75,330, down ¥530 from the previous day. Selling led during the daytime trading session amid the yen’s appreciation and the dollar’s decline. Although concerns over geopolitical risks in the Middle East remained strong, new buying was restrained.
Other contract months fell by ¥90–¥450, and the market as a whole remained weak. In the electricity market, the East Area 37th-week and West Area 39th-week weekly baseload contracts were traded, and both declined. There were no new trades in gasoline, LNG or Osaka Exchange CME Crude Oil and Other Index futures.
The foregoing information was reported by Jiji Press via Yahoo! Finance.