US crude down $1, nears $122/bbl, on profit taking

08 May 2008 16:26  [Source: ICIS news]

LONDON (ICIS news)-- NYMEX light sweet crude futures fell by more than $1.00/bbl on Thursday to take the front-month June contract close to $122.00/bbl on profit-taking during a volatile afternoon session.

By 15:10 GMT, June NYMEX crude had hit a low of $122.29/bbl, a loss of $1.24/bbl from the previous close of $123.53/bbl, before recovering to around $122.60/bbl.

At the same time, June Brent crude on ICE Futures was trading around $121.90/bbl, having hit a low of $121.65/bbl, a loss of $0.67/bbl from the previous close.

By: Giovanni Coiro
+44 20 8652 3214

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