Crude prices up by more than $1/bbl on eurozone optimism

17 October 2011 10:20  [Source: ICIS news]

LONDON (ICIS)--Crude prices gained more than $1.00/bbl on Monday to take Brent crude on ICE Futures close to $114.00/bbl on hopes that European leaders would reach an agreement to tackle the eurozone debt crisis.

By 08:45 GMT, December Brent crude had hit a high of $113.86/bbl, a gain of $1.63/bbl from Friday’s close of $112.23/bbl, before easing back to around $113.10/bbl.

At the same time, November NYMEX light sweet crude futures were trading around $88.15/bbl, having hit a high of $88.18/bbl, a gain of $1.38/bbl from the previous close.

By: Tony Dillon
+44 20 8652 3214

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