14 December 2012 15:34 [Source: ICIS news]
LONDON (ICIS)--Crude prices gained more than $1.00/bbl on Friday to take Brent crude on ICE Futures above $109.00/bbl on the back of encouraging manufacturing data from China.
By 15:00 GMT, January Brent crude had hit a high of $109.32/bbl, a gain of $1.41/bbl from Thursday’s close of $107.91/bbl, before easing back to around $109.10/bbl.
At the same time, January NYMEX light sweet crude futures were trading around $86.25/bbl, having hit a high earlier in the day of $86.92/bbl, a gain of $1.03/bbl from the previous close of $85.89/bbl, before falling sharply due to ongoing concerns over the failure to set a US budget.
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