03 November 2006 21:53 [Source: ICIS news]
HOUSTON (ICIS news)--West Texas Intermediate (WTI) crude for December delivery rose $1.26 to $59.14/bbl on the New York Mercantile Exchange (Nymex) on Friday as market speculators bought on reports of supply threats.
Oil prices started to rally following reports of a bomb threat against a BP refinery in ?xml:namespace>
During the session, front month crude bottomed out at $58.30/bbl before rising to $59.35 and giving back some of the gains ahead of the closing bell. On Thursday, WTI had settled at $57.88/bbl, down 83 cents.
December Brent crude on the Intercontinental Exchange gained $1.28 to settle at $59.15/bbl.
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