Crude futures rebound on firmer Europe stock markets

18 April 2013 12:04  [Source: ICIS news]

LONDON (ICIS)--Crude oil futures rebounded from recent falls following firmer stock markets on Thursday.

By 10:32 GMT, the front-month June ICE Brent contract touched an intra-day high at $99.10/bbl, a gain of $1.41/bbl compared to the settlement on Wednesday. The contract then retreated to trade around $98.75/bbl.

At the same time, the front-month May NYMEX WTI contract was trading around $87.50/bbl, having touched an intra-day high at $87.80/bbl, a gain of $1.12/bbl against the previous settlement.

Stock markets in the Asia-Pacific region were showing a mixed picture on Thursday, with gains seen in China’s Shanghai stock exchange even as Japan’s Nikkei 225 and Hong Kong’s Hang Seng closed in negative territory.

However, in Europe the UK’s FTSE 100 was trading at firmer levels, along with France’s CAC 40 and Germany’s DAX Index.

By: Kawai Wong
+44 20 8652 3214

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