NYMEX crude down over $1 as Fay threat subsides

18 August 2008 16:22  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures fell by more than $1.00/bbl on Monday to take the front month September contract below $113.00/bbl as fears that Tropical Storm Fay could threaten the US Gulf oil and gas infrastructure subsided.

 

By 15:05 GMT, September NYMEX crude had hit a low of $112.36/bbl, a loss of $1.41/bbl from the Friday close of $113.77/bbl, before recovering to around $112.60/bbl.

 

At the same time, October Brent crude on ICE Futures was trading around $111.35/bbl, having hit a low of $111.01/bbl, a loss of $1.54/bbl from the previous close.

 

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By: Tony Dillon
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