Crude prices rise further on hopes for eurozone debt solution

07 November 2011 14:57  [Source: ICIS news]

LONDON (ICIS)--Crude prices gained more than $2.00/bbl on Monday to take Brent crude on ICE Futures close to $115.00/bbl on the back of continued optimism that a solution will be found for the eurozone debt crisis.

By 14:30 GMT, December Brent crude had hit a high of $114.88/bbl, a gain of $2.91/bbl from Friday’s close of $111.97/bbl, before easing back to around $114.35/bbl.

At the same time, December NYMEX light sweet crude futures were trading around $95.15/bbl, having hit a high of $95.50/bbl, a gain of $1.24/bbl from the previous close of $94.26/bbl.

By: Tony Dillon
+44 20 8652 3214

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