NYMEX light sweet crude futures fall on US economy concerns

16 September 2011 16:30  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures lost more than $1.00/bbl on Friday to take the front month October contract close to $88.00/bbl on the back of mounting concerns over the recovery of the US economy.

By 14:36 GMT, October NYMEX crude had hit a low of $88.17/bbl, a loss of $1.23/bbl from the Thursday close of $89.40/bbl, before weakening further.

At the same time, November Brent crude on ICE Futures was trading around $113.15/bbl. It had hit a low of $112.22/bbl, a loss of 8 cents/bbl from the previous close.

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By: Kawai Wong
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