NYMEX under $101/bbl on US economy, Opec talk

03 March 2008 13:20  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures fell by more than $1/bbl on Monday to take the front-month April contract below $101/bbl on concerns over the US economy and talk that OPEC may decide on a small increase in output.

By 12.00 GMT, April NYMEX crude had hit a low of $100.77/bbl, a loss of $1.07/bbl from the Friday close of $101.84/bbl, before recovering to around $101.30/bbl.

At the same time, April Brent crude on ICE Futures was trading around $99.55/bbl, having hit a low of $99.20/bbl, a loss of $0.90/bbl from the previous close.

By: Giovanni Coiro
+44 20 8652 3214

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