18 June 2008 17:02 [Source: ICIS news]
LONDON (ICIS news)--NYMEX light sweet crude futures fell by more than $2/bbl on Wednesday to take the front month July contract below $132/bbl on the back of the weekly ?xml:namespace>
An unexpected gasoline draw was countered by a smaller crude draw and a larger distillate build then had been anticipated.
By 15:45 GMT, July NYMEX crude had hit a low of $131.82/bbl, a loss of $2.19/bbl from the Tuesday close of $134.01/bbl, before recovering to around $132.80/bbl.
At the same time, August Brent crude on ICE Futures was trading around $133.00/bbl, having hit a low of $132.14/bbl, a loss of $1.58/bbl from the previous close.
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