Oil Index 2012-07-01 to 2012-07-31

Summary:
Florida's oil index advanced once again in July, gaining 0.51 points--or 1.32%--from June. This marks the fourth consecutive month of gains, and also puts the index up 3.99 points--or 11.27%--year to date. July's increase is interesting in that both Brent and WTI crude spot prices rose month-over-month in July, but since a time-weighted average of the past three months is used the index itself still advanced. This can mainly be attributed to the large month-over-month decline in June, hence July's prices remain lower than May's.