Brent up $1/bbl on eurozone optimism, euro rally against US dollar

05 February 2013 12:24  [Source: ICIS news]

LONDON (ICIS)--Crude prices gained more than $1.00/bbl on Tuesday to take Brent crude on ICE Futures close to $117.00/bbl, recouping most of the ground lost on Monday as investor fears over the eurozone economy faded and the euro rallied against the US dollar.

By 12:00 GMT, March Brent crude had hit a high of $116.74/bbl, a gain of $1.14/bbl from Monday’s close of $115.60/bbl, before easing back to around $116.60/bbl.

At the same time, March NYMEX light sweet crude futures were trading around $96.90/bbl, having hit a high of $96.99/bbl, a gain of 82 cents/bbl from the previous close of $96.17/bbl.

By: Tony Dillon
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly