24 September 2009 20:52 [Source: ICIS news]
HOUSTON (ICIS news)--NYMEX light sweet crude for November delivery settled at $65.89/bbl on Thursday, down $3.08 versus Wednesday’s close, on follow-through selling.
The market’s weakness was extended following Wednesday’s supply data from the Energy Information Administration (EIA), showing a build in crude and refined products. A stronger dollar and a sell-off in the stock market also pressured the energy complex.
November crude sold down to a five-week low of $65.60/bbl before rebounding slightly ahead of the closing bell.
ICE Brent for November delivery bottomed out at $64.58/bbl before settling at $64.82/bbl, down $3.17.
To discuss issues facing the chemical industry go to ICIS connect
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|