NYMEX crude down $1/bbl on China growth doubts

11 June 2010 14:17  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures fell more than $1/bbl on Friday to take the front month July contract close to $74/bbl on the back of negative industrial output data from China which raised doubts over its future growth.

By 14:55 GMT, July NYMEX crude had hit a low of $74.00/bbl, a loss of $1.48/bbl from the Thursday close of $75.48/bbl, before recovering to around $74.05/bbl.

At the same time, July Brent crude on ICE Futures was trading around $74.55/bbl, having hit a low of $74.51/bbl, a loss of $0.71/bbl from the previous close.

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By: Giovanni Coiro
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