Crude up $2/bbl as stocks recover, dollar slips

21 November 2008 15:11  [Source: ICIS news]

LONDON (ICIS news)--Crude prices recovered some of the ground lost earlier in the week to rise by more than $2/bbl on Friday and take Brent crude on ICE Futures above $50/bbl following a temporary rebound in the stock markets and a slide in the US dollar.

By 14:50 GMT, January Brent crude had hit a high of $50.14/bbl, a gain of $2.06/bbl over Thursday’s close of $48.08/bbl, before easing back to around $48.55/bbl.

At the same time, January NYMEX crude was trading around $49.50/bbl, having hit a high of $51.12/bbl, which was a gain of $1.70/bbl over the previous close.

To discuss issues facing the chemical industry go to ICIS connect

By: Giovanni Coiro
+44 20 8652 3214

< previous article(VIDEO – ICIS news Americas Lunchtime Bulletin 27 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly