NYMEX Crude extends gains to $2/bbl on US Fed stimulus

14 September 2012 11:38  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures extended gains more than $2.00/bbl on Friday to take the front month October contract above $100.00/bbl, rising in tandem with buoyant global stock markets following the US Federal Reserve’s announcement of another round of stimulus measures to boost the US economy.

By 10:15 GMT, October NYMEX crude had hit a high of $100.42/bbl, a gain of $2.11/bbl from Thursday's close of $98.31/bbl, before easing back to around $100.25/bbl.

At the same time, November Brent crude on ICE Futures was trading around $117.60/bbl, having hit a high of $117.95/bbl, a gain of $2.07/bbl from the previous close of $115.88/bbl.

By: Tony Dillon
+44 20 8652 3214

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