NYMEX crude breaches $113/bbl to new record high

15 April 2008 13:10  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures gained more than $1/bbl on Tuesday to take the front month May contract to a new record high above $113.00/bbl on the back of a weak US Dollar and ongoing supply concerns.

 

By 12:00 GMT, May NYMEX crude had reached a record $113.66/bbl, a gain of $1.90/bbl from Monday’s close of $111.76/bbl, before easing back to around $113.50/bbl.

 

At the same time, the May Brent crude contract, which expires on London’s ICE Futures at the end of the day, was trading around $111.80/bbl, having hit a record high of $111.85/bbl, a gain of $2.01/bbl from the previous close.

By: Tony Dillon
+44 20 8652 3214

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