Crude falls over $2/bbl taking Brent close to $98

20 March 2008 12:35  [Source: ICIS news]

LONDON (ICIS news)--Crude prices fell by more than $2/bbl on Thursday to take Brent crude on ICE Futures close to $98/bbl as the markets continued to lose ground on concerns about the weak US economy causing a slackening of demand.

By 12:15 GMT, May Brent crude had hit a low of $98.20/bbl, a loss of $2.52 from the Wednesday close of $100.72, before recovering to around $98.50.

At the same time, May NYMEX light sweet crude futures was trading around $99.30/bbl, having hit a low of $98.92, a loss of $2.62 from the previous close.

By: Tony Dillon
+44 20 8652 3214

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