Brent crude down $1/bbl on eurozone debt, US economic data

24 March 2011 13:39  [Source: ICIS news]

LONDON (ICIS)--Oil prices fell by more than $1/bbl on Thursday to take Brent crude below $115/bbl after negative US durable goods data added to earlier weakness caused by concerns over the eurozone debt crisis.

By 13:10 GMT, May Brent crude had hit a low of $114.50/bbl, a loss of $1.05/bbl from the Wednesday close of $115.55/bbl, before recovering to around $114.75/bbl.

At the same time, May NYMEX light sweet crude futures were trading around $106.05/bbl, having hit a low of $105.11, a loss of $0.64 from the previous close.

By: Tony Dillon
+44 20 8652 3214

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