Crude continues to break records on weak dollar

13 March 2008 14:58  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures gained $1/bbl and hit another record on Thursday to take the front month April contract to $111.00/bbl on the back of speculative trading fuelled by a weak US dollar.

 

By 14:45 GMT, April NYMEX crude had hit a high of $111.00/bbl, a gain of $1.08/bbl from Wednesday’s close of $109.92/bbl, before easing back to around $110.75/bbl.

 

At the same time, April Brent crude on London’s ICE Futures was trading around $107.60/bbl, having also hit a record high of $107.88/bbl, a gain of $1.61/bbl from the previous close.

By: Giovanni Coiro
+44 20 8652 3214

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