Brent up $1/bbl ahead of European Central Bank meeting

07 February 2013 12:40  [Source: ICIS news]

LONDON (ICIS)--Crude prices gained more than $1.00/bbl on Thursday to take Brent crude on ICE Futures close to $118.00/bbl ahead of a meeting by the European Central Bank (ECB) which was expected to signal an improvement in the eurozone economy.

By 12:30 GMT, March Brent crude had hit a high of $117.77/bbl, a gain of $1.04/bbl from Wednesday’s close of $116.73/bbl, before easing back to around $117.65/bbl.

At the same time, March NYMEX light sweet crude futures were trading around $96.95/bbl, having hit a high of $97.00/bbl, a gain of 38 cents/bbl from the previous close of $96.62/bbl.

By: Tony Dillon
+44 20 8652 3214

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