08 February 2013 12:22 [Source: ICIS news]
LONDON (ICIS)--Crude prices gained more than $1.00/bbl on Friday to take Brent crude on ICE Futures above $118.00/bbl, the highest level for a front month contact since early May 2012.
Prices were boosted by robust Chinese trade data and tension in the Middle East.
As of 11:50 GMT, March Brent crude had hit a high of $118.41/bbl, a gain of $1.17/bbl from Thursday’s close of $117.24/bbl, before easing back to around $118.30/bbl.
At the same time, March NYMEX light sweet crude futures were trading around $96.30/bbl, having hit a high of $96.36/bbl, a gain of 53 cents/bbl from the previous close of $95.83/bbl.
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