31 May 2011 10:49 [Source: ICIS news]
LONDON (ICIS)--Crude prices gained more than $1/bbl on Tuesday as the euro gained ground against the US dollar on expectations that a financial aid package would be agreed for Greece.
By 09:20 GMT, July Brent crude was trading at around $116.10/bbl, having earlier hit a high of $116.33/bbl, a gain of $1.65/bbl from the previous close of $114.68/bbl.
At the same time, July NYMEX light sweet crude futures were trading around $102/bbl, having hit a high of $102.13, a gain of $1.54 from the previous close.
Concerns surrounding the debt crisis in the eurozone were heightened after Greece’s credit rating was cut to B-plus last week.
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|
Asian Chemical Connections