Crude gains more than $1/bbl on supply concerns

10 September 2010 10:43  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures gained more than $1.00/bbl on Friday to take the front month October contract close to $76.00/bbl on the back of supply concerns for the US mid-west following the closure of the main pipeline importing crude from Canada due too a leak.

By 09:20 GMT, October NYMEX crude had hit a high of $75.92/bbl, a gain of $1.67/bbl from the Thursday close of $74.25/bbl, before easing back to around $75.85/bbl.

At the same time, October Brent crude on ICE Futures was trading around $77.65/bbl, having hit a high of $77.92/bbl, a gain of $0.45/bbl from the previous close.

To discuss issues facing the chemical industry go to ICIS connect

By: Tony Dillon
+44 20 8652 3214

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