Brent adds to gains on US data reveals modest rise in jobs

01 February 2013 14:36  [Source: ICIS news]

LONDON (ICIS)--Crude prices gained more than $1.00/bbl on Friday to take Brent crude on ICE Futures close to $117.00/bbl on the back a weaker US dollar and buoyant global stock markets after US payroll data revealed a modest rise in jobs in January.

This represents the highest level for the front month Brent contract since mid-September 2012.

By 14:05 GMT, March Brent crude had hit a high of $116.73/bbl, a gain of $1.18/bbl from Thursday’s close of $115.55/bbl, before easing back to around $116.30/bbl.

At the same time, March NYMEX light sweet crude futures were trading around $97.10/bbl, having hit a high of $97.72/bbl, a gain of just 23 cents/bbl from the previous close of $97.49/bbl.

By: Tony Dillon
+44 20 8652 3214

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