22 March 2011 15:22 [Source: ICIS news]
LONDON (ICIS)--NYMEX light-sweet crude futures gained more than $1/bbl on Tuesday to take the expiring front-month April contract above $103/bbl as a result of the escalating military action in enforcing the UN-sanctioned no-fly zone over Libya, heightening fears of prolonged supply disruptions
By 14:55 GMT, April NYMEX crude had hit a high of $103.40/bbl, a gain of $1.07/bbl from the previous close of $102.33/bbl, before easing back to around $103.25/bbl.
At the same time, May Brent crude on the ICE futures exchange was trading around $115.35/bbl, having hit a high of $115.50/bbl, a gain of $0.54/bbl from the previous close.
Read Paul Hodges’ Chemicals and the Economy blog
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|