Brent extends losses to $2/bbl as eurozone optimism dwindles

18 June 2012 14:38  [Source: ICIS news]

LONDON (ICIS)--Oil prices extended losses to more than $2.00/bbl on Monday to take Brent crude on ICE Futures below $96.00/bbl after earlier optimism on the back of Greek election results faded and attention turned to tproblems elsewhere in the eurozone.

By 13:20 GMT, August Brent crude had hit a low of $95.58/bbl, a loss of $2.03/bbl from Friday’s close of $97.61/bbl, before recovering to around $95.70/bbl.

At the same time, July NYMEX light sweet crude futures were trading around $82.40/bbl, having hit a low of $82.36/bbl, a loss of $1.67/bbl from the previous close of $84.03/bbl.

By: Tony Dillon
+44 20 8652 3214

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