A December 2027 Brent futures quote passed $87 a barrel Tuesday. Separately, the front-month contract settled at $108.79.
A December 2027 futures contract sets a price for oil due in that month, rather than crude available for prompt delivery. Reuters reported that Brent's front-month contract settled at $108.79 a barrel Tuesday, down 76 cents, or 0.69%.
Separate September U.S. fuel oil data showed prices were 74.2% higher than a year earlier. The fuel oil index rose 15.3% from August on a seasonally adjusted basis. The annual figure describes a price change, while the monthly figure measures the index's change.
The fuel oil data and Brent quotes describe distinct products and time frames: September fuel oil prices and futures for crude scheduled for delivery more than a year later. The two fuel oil comparisons also use different baselines, with the 74.2% change measured year over year and the 15.3% index change measured month over month.
