18 March 2011 14:56 [Source: ICIS news]
LONDON (ICIS)--Crude prices fell more than $1/bbl on Friday to take Brent crude on ICE Futures close to $113/bbl, as ?xml:namespace>
The Brent front-month-contract had reached a high of $117.29/bbl earlier in the day as investors feared more violence in the Middle East after reports emerged that the United Nations had authorised military action against
By 14:45 GMT, May Brent crude had hit a low of $113.07/bbl, a loss of $1.83/bbl from the Thursday close of $114.90/bbl, before recovering to around $114.50/bbl.
At the same time, April NYMEX light sweet crude futures was trading around $101.20/bbl, having hit a low of $100.32/bbl, a loss of $1.10/bbl from the previous close.
($1 = €0.71)
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