04 January 2011 15:52 [Source: ICIS news]
LONDON (ICIS)--NYMEX light sweet crude futures lost more than $2.00/bbl on Tuesday to take the front-month February contract below $90.00/bbl, on the back of profit taking after prices rose to new 27-month highs on Monday.
By 15:25 GMT, February NYMEX crude had hit a low of $89.44/bbl, a loss of $2.11/bbl from the Monday close of $91.55/bbl, before recovering to around $90.00/bbl.
At the same time, February Brent crude on ICE Futures was trading at around $93.80/bbl, having hit a low of $93.30/bbl, a loss of $1.54/bbl from the previous close.
To discuss issues facing the chemical industry go to ICIS connect
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections