Crude futures gain on firmer stock markets

19 April 2013 13:00  [Source: ICIS news]

LONDON (ICIS)--ICE Brent crude oil futures rebounded back above $100/bbl on Friday after stock markets firmed around the globe.

By 11:05 GMT, the front-month June ICE Brent contract had hit an intra-day high at $100.33/bbl, a $1.20/bbl gain compared with the settlement on Thursday. The contract then edged lower to trade around $100.05/bbl.

At the same time the front-month May NYMEX WTI contract was trading around $88.65/bbl, having touched an intra-day high at $88.79/bbl, a gain of $1.06/bbl compared with the previous close.

Stock markets around the world were mostly firmer on Friday. In the Asia-Pacific region, China’s Shanghai Composite Index, Hong Kong’s Hang Seng and Japan’s Nikkei 225 all settled in positive territory. In Europe Britain’s FTSE 100, France's CAC 40 and Germany’s Dax were also trading at firmer levels compared with the previous close.

($1 = €0.77)

By: Kawai Wong
+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