Crude down over $1, Brent close to $94/bbl

15 February 2008 17:35  [Source: ICIS news]

LONDON (ICIS news)--Crude prices fell by more than $1.00/bbl on Friday to take Brent crude on ICE Futures close to $94.00/bbl on some pre-weekend profit taking.

 

By 17.25 GMT, April Brent crude had hit a low of $94.02/bbl, a loss of $1.14 from the Thursday close of $95.16, before recovering to around $94.20.

 

At the same time, March NYMEX light sweet crude futures was trading around $94.88/bbl, having hit a low of $94.66, a loss of $0.90 from the previous close.

 

Earlier in the day, March NYMEX crude rose by over $1.00/bbl to hit a high of $96.67 on the back of a weak US dollar and ongoing concerns about Venezuela cutting exports to the US.

By: Tony Dillon
+44 20 8652 3214

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