12 May 2008 16:42 [Source: ICIS news]
LONDON (ICIS news)--NYMEX light sweet crude futures recovered from earlier losses of more than $2/bbl on Monday to take the front-month June contract to a new front-month record high of $126.40/bbl.
By 15:15 GMT, June NYMEX crude had hit the high, a gain of 44 cents/bbl from the Friday close of $125.96/bbl, before easing back to around $125.85/bbl.
At the same time, June Brent crude on ICE Futures was trading around $124.75/bbl, having hit a high of $125.63/bbl at the start of the day, a gain of $0.23/bbl from the previous close.
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