Crude falls $2/bbl as weak euro raises concerns over demand

20 May 2010 13:24  [Source: ICIS news]

LONDON (ICIS news)--Crude prices fell by more than $2/bbl on Thursday to take Brent crude on the ICE futures exchange below $72/bbl as a faltering euro raised concerns over European oil demand.

By 12:05 GMT, July Brent crude had hit a low of $71.61/bbl, which was a loss of $2.08 from the previous close of $73.69, before recovering to around $71.80.

At the same time, June NYMEX light sweet crude futures were trading around $68.30/bbl, having hit a low of $67.92, which was a loss of $1.95 from the previous close.

Read Paul Hodges’ Chemicals and the Economy blog
To discuss issues facing the chemical industry visit
ICIS connect

By: Tony Dillon
+44 20 8652 3214

AddThis Social Bookmark Button

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