Corrected: Crude futures gain on further sanctions against Iran

22 November 2011 11:12  [Source: ICIS news]

Correction: In the ICIS news story headlined “Crude futures gain on further sanctions against Iran” dated 22 November 2011, please read in the first paragraph ...to around $98/bbl... instead of ...above $98/bbl. In the second paragraph, please read …before easing back to around $97.97/bbl… instead of … before easing back to around $98/bbl ... A corrected story follows.

LONDON (ICIS)--
NYMEX light sweet crude futures gained more than $1/bbl on Tuesday to take the front month January contract to around $98/bbl on fears of Middle East instability after the US, UK and Canada imposed a fresh wave of sanctions against Iran over its nuclear programme.

By 10:30 GMT, January NYMEX crude had hit a high of $97.98/bbl, a gain of $1.06/bbl from the Monday close of $96.92/bbl, before easing back to around $97.97/bbl.

At the same time, January Brent crude on ICE Futures was trading around $107.64/bbl, having hit a high of $107.74/bbl, a gain of 86 cents/bbl from the previous close of $106.88/bbl.


By: Kawai Wong
+44 20 8652 3214



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