13 November 2007 16:03 [Source: ICIS news]
LONDON (ICIS news)--NYMEX crude fell by more than $2 on Tuesday to slip below $93/bbl as traders sold heavily into the December front-month contract on options expiry day amid forecasts of a relatively mild winter for the US.
Speculation last week that December WTI could have breached $100/bbl mark if the weekly ?xml:namespace>
By 15:15 GMT, December NYMEX crude had hit a low of $92.18/bbl, a loss of $2.44 from the Monday close of $94.62, before recovering to around $92.60.
At the same time, December Brent crude on ICE Futures was trading around $89.75/bbl, having hit a low of $89.38, a loss of $2.60 from the previous close.
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