US crude futures fall $1.08/bbl on pre-weekend selling

18 May 2012 22:15  [Source: ICIS news]

HOUSTON (ICIS)--NYMEX light sweet crude (WTI) for June delivery extended the losses to six consecutive sessions on Friday, settling at $91.48/bbl, down $1.08 versus the previous close.

Concerns that the debt crisis in Spain and in Greece could affect other eurozone economies pressured global stock markets and caused the euro to experience great volatility, driving crude prices down.

The June WTI contract which goes off the board on Tuesday, dropped by $1.48 to $91.08/bbl, down $2.17, before rebounding ahead of the closing bell but the losses were extended during electronic trading afterwards.

ICE Brent for July delivery bottomed out at $106.40/bbl and settled at $107.14/bbl, down 35 cents.

By: Ignacio Sotolongo
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