NYMEX WTI crude rises as political tensions rise in Middle East

22 November 2011 22:25  [Source: ICIS news]

HOUSTON (ICIS)--NYMEX WTI crude futures ended higher on Tuesday as geopolitical concerns brewed in the Middle East.

January NYMEX WTI established the day’s low-to-high range at $96.55-98.70/bbl early, before it settled at $98.01/bbl, up by $1.09/bbl from Monday.

The increase comes as concerns over Iran’s nuclear programme re-emerged, after the country dismissed energy and financial sanctions from the US, England and Canada.

Traders also kept close watch on political developments in Egypt and Syria.

($1 = €0.74)

For more on crude visit ICIS chemical intelligence

By: Brian Balboa
+1 713 525 2653

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