Crude falls more than $1/bbl on eurozone economy concerns

09 January 2012 16:31  [Source: ICIS news]

LONDON (ICIS)--Crude prices fell by more than $1/bbl on Monday to take Brent crude on ICE Futures below $112/bbl on the back of concerns over the eurozone economy which resulted in the euro losing ground to the US dollar.

By 16:15 GMT, February Brent crude had hit a low of $111.80/bbl, a loss of $1.26/bbl from Friday’s close of $113.06/bbl, before recovering to around $111.95/bbl.

At the same time, February NYMEX light sweet crude futures were trading around $100.30/bbl, having hit a low of $100.10/bbl, a loss of $1.46/bbl from the previous close of $101.56/bbl.

By: Tony Dillon
+44 20 8652 3214

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