07 June 2012 10:09 [Source: ICIS news]
LONDON (ICIS)--Crude prices fell by more than $1.00/bbl on Thursday to take Brent crude on ICE Futures below $100/bbl on the back of concerns over shrinking global demand.
By 08:45 GMT, July Brent crude had hit a low of $99.62/bbl, a loss of $1.02/bbl from Wednesday’s close of $100.64/bbl, before recovering to around $99.90/bbl.
At the same time, July NYMEX light sweet crude futures were trading around $84.65/bbl, having hit a low of $84.51/bbl, a loss of 51 cents/bbl from the previous close of $85.02/bbl.
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