04 January 2008 16:51 [Source: ICIS news]
LONDON (ICIS news)--NYMEX light sweet crude futures fell by more than two dollars on Friday to take the front-month February contract close to $97/bbl on negative US economic data and a smaller than expected draw in US natural gas stocks.
By 16:30 GMT, February NYMEX crude had hit a low of $97.17/bbl, a loss of $2.01/bbl from the Thursday close of $99.18/bbl, before recovering to around $97.50/bbl.
At the same time, February Brent crude on ICE Futures was trading around $96.70/bbl, having hit a low of $96.35/bbl, a loss of $1.25/bbl from the previous close.
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