06 March 2008 17:33 [Source: ICIS news]
LONDO (ICIS news)--NYMEX light sweet crude futures fell sharply on Thursday to take the front month April contract more than $2.00/bbl below the new front month record high of $105.97 set earlier in the day.
By 17:10 GMT, April NYMEX crude had hit a low of $103.42/bbl, a loss of $1.10/bbl from the Wednesday close of $104.52/bbl, before recovering to around $103.95/bbl.
At the same time, April Brent crude on ICE Futures was trading around $101.40/bbl, having hit a low of $100.73/bbl, a loss of $0.91/bbl from the previous close. Brent had also set a new record high of $102.95/bbl earlier in the day.
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