Crude falls more than $1/bbl on US jobless claims

19 August 2010 15:26  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures fell more than $1/bbl on Thursday to take the front-month September contract close to $74/bbl after US jobless claims rose to a nine-month high, raising further concerns about a dip back into recession.

By 14:05 GMT, September NYMEX crude fell $1.16/bbl from the previous close of $75.42/bbl to hit a low of $74.26/bbl, before recovering to around $74.40/bbl.

At the same time, October Brent crude on London’s ICE futures exchange was trading around $75.40/bbl, having hit a low of $75.28/bbl, which was a loss of $1.19/bbl from the previous close.

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By: Tony Dillon
+44 20 8652 3214



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