US crude extends losses to almost $5/bbl

07 July 2008 14:45  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures extended their losses against Thursday’s close to almost $5/bbl on Monday to take the front month August contract close to $140/bbl on the back of a strengthening US dollar.

 

By 13:30 GMT, August NYMEX crude had hit a low of $140.33/bbl, a loss of $4.96/bbl from the Thursday close of $145.29/bbl, before recovering to around $141.35/bbl.

 

At the same time, August Brent crude on London’s ICE Futures were trading around $141.50/bbl, having hit a low of $141/bbl, a loss of $3.42/bbl from Friday’s close.

 

NYMEX light sweet crude futures were not traded on Friday due to the Independence Day holiday in the US.

 

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By: Giovanni Coiro
+44 20 8652 3214

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