Crude up $1/bbl on US payroll data, Brent hits contract high

01 April 2011 17:11  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures gained more than $1/bbl on Friday to take the front month May contract close to $108/bbl on the back of some better-than-expected US payroll data.

However, the same data also boosted the US dollar in the currency markets, which limited the upside.

By 15:50 GMT, May NYMEX crude had hit a high of $107.93/bbl, a gain of $1.21/bbl from Thursday's close of $106.72/bbl, before easing back to around $107.65/bbl.

At the same time, May Brent crude on ICE Futures was trading around $118.35/bbl, having hit a contract high of $118.59/bbl, a gain of $1.23/bbl from the previous close.

By: Tony Dillon
+44 20 8652 3214

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