08 April 2008 14:52 [Source: ICIS news]
By 13:00 GMT, May NYMEX crude had hit a low of $107.79/bbl, a loss of $1.30/bbl from Monday’s close of $109.09/bbl, before recovering to around $108.00/bbl.
At the same time, May Brent crude on
The dollar gained against major currencies after falling on Friday when reports from the
The US Labor Department showed a net loss of 80,000 jobs in March, representing a decrease for the third consecutive month.
This latest set of negative data from the
The main factors which drove prices up on Monday were OPEC’s comments over the weekend suggesting that the organisation had no reasons to alter supply, fog on the Houston Ship Channel which was causing delays and gasoil prices hitting record highs.
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