Crude prices continue to fall as cold weather eases

15 January 2010 15:34  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures fell more than $1/bbl on Friday to take the front-month February contract close to $78/bbl due to milder weather across the northern hemisphere and disappointing economic data from the US.

By 15:20 GMT, February NYMEX crude had hit a low of $78.35/bbl, which was a loss of $1.04/bbl from the previous close of $79.39/bbl, before recovering to around $78.50/bbl.

At the same time, March Brent crude on ICE futures was trading around $77.70/bbl, having hit a low of $77.50/bbl, which was a loss of $1.07/bbl from the previous close.

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By: Tony Dillon
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