Crude down $2/bbl on US stock build expectations

19 March 2008 12:49  [Source: ICIS news]

LONDON (ICIS news)--Crude prices fell by more than $2/bbl on Wednesday to take Brent crude on ICE Futures well below $104/bbl on expectations that the weekly US stocks figures will again show a large build on crude and gasoline.

By 12:35 GMT, May Brent crude had hit a low of $103.34/bbl, a loss of $2.22 from the Tuesday close of $105.56, before recovering to around $103.45.

At the same time, April NYMEX light sweet crude futures was trading around $107.25/bbl, having hit a low of $107.07, a loss of $2.35 from the previous close.

The April NYMEX contract expires at the end of the day.

By: Tony Dillon
+44 20 8652 3214

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