20 June 2008 14:09 [Source: ICIS news]
SINGAPORE (ICIS news)--Crude prices gained more than $2/bbl on Friday to climb back well above $134/bbl, after a plunge of well over $4/bbl the previous day on expectations of weaker demand after ?xml:namespace>
At 12:19 GMT on Friday, August ICE Brent futures were trading at $134.35/bbl, up $2.35/bbl on the previous day's close. Earlier the contract rose to a high of $134.95/bbl, up $2.95/bbl.
At the same time, July NYMEX light sweet crude futures traded at $134.13/bbl, up $2.20/bbl on Thursday’s settlement level.
Earlier the contract hit a high of $134.83/bbl, up $2.90/bbl. The July NYMEX contract expires at the close of Friday’s trading session.
Traders continue to watch developments in
The market would also monitor a meeting between consumers and producers in Jeddah,
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