05 April 2010 17:20 [Source: ICIS news]
HOUSTON (ICIS news)--NYMEX light sweet crude for May delivery rose $2.03 to $86.90/bbl on Monday, lifted by weakness in the US dollar and a rally in the stock market driven by a series of positive economic data.
A positive jobs report released on Friday and Monday’s data showing a rise in pending home sales as well as growth in the ?xml:namespace>
Crude oil futures on the NYMEX and ICE were closed on Friday in
May crude on the NYMEX topped out at $86.90/bbl, up $2.03 and setting an 18-month high before retreating slightly. At 16:00 GMT, the market was at $86.59/bbl, up $1.72.
ICE Brent for May delivery also set a new high, rising to $86.05/bbl before retreating towards $85.74/bbl, up $1.73.
On the refined products side, May gasoline futures picked up 3.32 cents to trade at $2.3569/gal.
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