08 December 2008 21:37 [Source: ICIS news]
HOUSTON (ICIS news)--NYMEX light sweet crude futures for January delivery corrected upwards from near 4-year lows on Monday and settled at $43.71/bbl, up $2.90 from Friday’s close.
The energy complex tracked a rally in the stock market on expectations that various government stimulus plans will avert further economic slide and in the currency markets, the US dollar slipped versus the euro.
Crude futures for January delivery established a high of $44.70/bbl before giving back a portion of the gains ahead of the closing bell.
ICE Brent for January delivery established an intra-day high of $44.25/bbl before settling at $43.42/bbl, up $3.68.
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