Crude gains on firmer stock markets

12 April 2012 16:04  [Source: ICIS news]

LONDON (ICIS)--The front-month NYMEX WTI contract gained more than $1.00/bbl on Thursday amid firmer global stock markets.

By 14:25 GMT, the front-month May contract had reached an intra-day high of $103.76/bbl, a gain of $1.06/bbl compared with Wednesday's settlement. The contract then edged lower to trade around $103.60/bbl.

At the same time the front-month May ICE Brent contract was trading around $120.35/bbl, having touched an intra-day high of $120.70/bbl, a gain of 52 cents compared with Wednesday's close.

Futures in crude oil were trading inline with global stock markets, which lifted on Thursday supported by rising banking stocks.

By: Kawai Wong
+44 20 8652 3214

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