13 June 2011 11:41 [Source: ICIS news]
LONDON (ICIS)--NYMEX light sweet crude futures lost more than $1/bbl on Monday to take the front month July contract below $99/bbl on the back of expectations that OPEC’s largest crude producer ?xml:namespace>
According to various media reports,
By 10:00 GMT, July NYMEX crude had hit a low of $98.18/bbl, a loss of $1.11/bbl from the Friday close of $99.29/bbl, before recovering to around $98.22/bbl.
At the same time, July Brent crude on ICE Futures was trading around $118.47/bbl, having hit a low of $118.10/bbl, a loss of $0.68/bbl from the previous close.
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