NYMEX crude extends gains on US jobs data

06 September 2012 15:37  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures extended gains to more than $2.00/bbl on Thursday to take the front month October contract above $97.00/bbl after US jobless claims fell by more than expected.

This added to the boost given by a larger-than-forecast draw on crude stocks shown in the weekly data from the American Petroleum Institute (API).

The stock data from the Energy Information Administration (EIA) is due to be published later on Thursday.

By 14:15 GMT, October NYMEX crude had hit a high of $97.55/bbl, a gain of $2.19/bbl from the Wednesday close of $95.36/bbl, before easing back to around $97.00/bbl.

At the same time, October Brent crude on ICE Futures was trading around $114.55/bbl, having hit a high of $114.83/bbl, a gain of $1.46/bbl from the previous close of $113.09/bbl.


By: Tony Dillon
+44 20 8652 3214



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