10 April 2012 12:28 [Source: ICIS news]
LONDON (ICIS)--The front-month ICE Brent contract fell by more than $1.00/bbl on Tuesday, on the back of weaker-than-expected import data from China.
By 11:05 GMT, the May Brent ICE contract had touched an intra-day low of $121.48/bbl, a loss of $1.19/bbl compared with the previous settlement. The contract then edged higher to trade around $121.55/bbl
At the same time, the front-month NYMEX WTI contract hit a low of $101.69/bbl, a loss of 77 cents/bbl compared with the previous close. The May WTI contract subsequently strengthened to around $101.80/bbl.
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