NYMEX down $1/bbl on profit taking and demand worries

12 March 2010 17:42  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures fell more than $1/bbl on Friday to take the front month April contract below $81/bbl on the back of worries over future demand reflected by some negative economic data from the US and profit taking ahead of the weekend.

By 17:10 GMT, April NYMEX crude had hit a low of $80.73/bbl, a loss of $1.38/bbl from the Thursday close of $82.11/bbl, before recovering to around $81.05/bbl.

At the same time, April Brent crude on ICE Futures was trading around $79.20/bbl, having hit a low of $78.87/bbl, a loss of $1.41/bbl from the previous close.

To discuss issues facing the chemical industry go to ICIS connect

Author: Giovanni Corio

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