Brent extends losses to $4.00/bbl on eurozone debt crisis

23 July 2012 14:03  [Source: ICIS news]

LONDON (ICIS)--Crude prices extended losses to more than $4.00/bbl on Monday to take Brent crude on ICE Futures below $103.00/bbl on the back of a firmer US dollar as investors flocked to a safe haven amid a worsening eurozone debt crisis. 

By 12:45 GMT, September Brent crude had hit a low of $102.42/bbl, a loss of $4.41/bbl from Friday’s close of $106.83/bbl, before recovering to around $102.75/bbl.

At the same time, September NYMEX light sweet crude futures were trading around $88.25/bbl, having hit a low of $88.01/bbl, a loss of $3.82//bbl from the previous close of $91.83/bbl.

By: Tony Dillon
+44 20 8652 3214

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