NewsFlashUS crude skyrockets $25/bbl

22 September 2008 20:01  [Source: ICIS news]

HOUSTON (ICIS news)--NYMEX light sweet crude futures for October delivery rose to $130.00/bbl on Monday, up $25.45 ahead of the contract expiration at the end of the session.

At 18:30 GMT the front month had pulled back to $126.50/bbl.

The surge was boosted earlier in the day by worries regarding the US government’s stimulus package to salvage the financial industry and a falling US dollar.

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By: Ignacio Sotolongo
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