07 July 2008 11:47 [Source: ICIS news]
SINGAPORE (ICIS news)--Crude futures prices fell by more than $1/bbl on Monday undermined by a stronger US dollar and profit-taking following the recent record highs.?xml:namespace>
However, prices still remained close to record levels well above $140/bbl amid raised geopolitical tensions after ?xml:namespace>
At 10:24 GMT on Monday, August Brent on London ICE Futures were trading at $143.18/bbl, down $1.24/bbl on last Friday’s settlement price, having earlier fallen to a low of $142.62/bbl, down $1.80/bbl
At the same time, August NYMEX light sweet crude futures traded at $142.73/bbl, down $2.56/bbl on last Thursday’s settlement level. Earlier it hit a low of $142.01/bbl, down $3.28/bbl.
There was no floor trading and therefore settlement price for NYMEX light sweet crude futures on Friday due to the Independence Day holiday in the
The US dollar strengthened close to €0.6400, rebounding from two lows hit last week which had helped trigger record high crude prices reached on Thursday.
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