30 May 2008 12:54 [Source: ICIS news]
By 11:35 GMT, July Brent crude had hit a high of $128.11/bbl, a gain of $1.22/bbl over Thursday’s close of $126.89/bbl, before easing back to around $127.85/bbl.
At the same time, July NYMEX crude was trading around $127.20/bbl, having hit a high of $127.30/bbl, a gain of 68 cents/bbl over the previous close.
Earlier in the day, prices had fallen sharply on the back of a stronger US Dollar and concerns about falling demand and both benchmark grades had posted losses of almost $2.00/bbl.
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