US crude continues smashing records at $110.33

13 March 2008 20:54  [Source: ICIS news]

HOUSTON (ICIS news)--NYMEX light sweet crude futures for April delivery settled up 41 cents at a record $110.33/bbl as it received more support from the weaker US dollar.

The front month established an intra-day record high of $111.00/bbl early in the session but sold down to $109.10/bbl on profit taking before a late rally lifted the contract to establish the record settlement.

The price also increased as speculators used crude futures as alternative investment.

April ICE Brent also rose to record highs, peaking at $107.88/bbl before settling at a record $107.54/bbl, up $1.27/bbl.

Heating oil for April delivery rose 10.04 cents to close at an all-time high $3.12 cents/gal; while same-month gasoline reformulated blendstock for oxygenate blending (RBOB) lost 0.5 cent to close at $2.68 cents/gal.

By: Ignacio Sotolongo
+1 713 525 2653

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