Crude falls more than $7/bbl on economic jitters

10 October 2008 14:34  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures fell by more than $7/bbl on Friday to take the front month November contract close to $79/bbl as the market continues to worry about the impact a global slowdown will have on demand.

 

By 13:20 GMT, November NYMEX crude had hit a low of $79.57/bbl, a loss of $7.02/bbl from the Thursday close of $86.59/bbl, before recovering to around $79.60/bbl.

           

At the same time, November Brent crude on London’s ICE Futures was trading around $75.75/bbl, having hit a low of $75.53/bbl, a loss of $7.13/bbl from the previous close.

By: Giovanni Coiro
+44 20 8652 3214

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