Crude rises in tandem with stock markets, Brent edges over $110/bbl

24 August 2011 15:24  [Source: ICIS news]

LONDON (ICIS)--Crude prices gained more than $1/bbl on Wednesday to take Brent crude on ICE Futures above $110/bbl as stock markets rallied on the back of some encouraging US economic data, while a weaker dollar added further support.

By 14:05 GMT, October Brent crude had hit a high of $110.45/bbl, a gain of $1.14/bbl from Tuesday’s close of $109.31/bbl, before easing back to around $110.30/bbl.

At the same time, October NYMEX light sweet crude futures was trading around $86.10/bbl, having hit a high of $86.36, a gain of $0.92 from the previous close.

By: Tony Dillon
+44 20 8652 3214

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