10 December 2007 15:47 [Source: ICIS news]
LONDON (ICIS news)--NYMEX light sweet crude futures gained more than a dollar on Monday to take the front month January contract above the $89.00/bbl mark due to ship delays and a weaker dollar.
By 15:00 GMT, January NYMEX crude had hit a high of $89.80/bbl, a gain of $1.52/bbl from the Friday close of $88.28/bbl, before easing back to around $89.40/bbl.
At the same time, January Brent crude on ICE Futures was trading around $89.50/bbl, having hit a high of $89.85/bbl, a gain of $1.21/bbl from the previous close.
The dollar slipped after unexpected negative data on the ?xml:namespace>
Oil prices were further boosted by reports of bad weather in the
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