Crude gains more than $1/bbl to reach $103/bbl on Egypt crisis

03 February 2011 11:48  [Source: ICIS news]

LONDON (ICIS)--Crude prices gained more than $1/bbl on Thursday to take Brent crude on ICE Futures above $103/bbl over worries about the Egypt crisis and its impact on supplies.

By 11:30 GMT, March Brent crude had hit a high of $103.37/bbl, a gain of $1.03/bbl from the Wednesday close of $102.34/bbl, before easing back to around $102.65/bbl.

At the same time, March NYMEX light sweet crude futures was trading around $91.70/bbl, having hit a high of $92.05/bbl, a gain of $1.19/bbl from the previous close.

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By: Giovanni Coiro
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