Crude up $1/bbl on Italy austerity vote, US consumer data

11 November 2011 16:10  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures gained more than $1/bbl on Friday to take the front month December contract close to $99/bbl after the Italian senate voted to approve a programme of austerity measures.

Some positive US consumer data added further upward impetus.

By 15:45 GMT, December NYMEX crude had hit a high of $98.98/bbl, a gain of $1.20/bbl from the Thursday close of $97.78/bbl, before easing back to around $98.90/bbl.

At the same time, December Brent crude on ICE Futures was trading around $114.65/bbl, having hit a high of $114.73/bbl, a gain of $1.02/bbl from the previous close of $113.71/bbl.


By: Tony Dillon
+44 20 8652 3214



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