Crude up more than $1/bbl ahead of US stock data

20 August 2008 13:26  [Source: ICIS news]

LONDON (ICIS news)--Crude prices rose by more than a dollar on Wednesday to take Brent crude on ICE Futures well above $114.00.00/bbl ahead of the weekly US stock figures, which are expected to show a significant draw on gasoline.

 

By 12.15 GMT, October Brent crude had hit a high of $114.75/bbl, a gain of $1.50/bbl over the Tuesday close of $113.25/bbl, before easing back to around $114.60/bbl.

 

At the same time, September NYMEX crude was trading around $115.90/bbl, having hit a high of $116.12/bbl, a gain of $1.59/bbl over the previous close.

 

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By: Tony Dillon
+44 20 8652 3214

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