Crude up $1/bbl on Middle East concerns, US jobs data

25 April 2013 17:25  [Source: ICIS news]

LONDON (ICIS)--Crude prices gained more than $1.00/bbl on Thursday to take Brent crude on ICE Futures close to $103.00/bbl on the back of reports the Syrian Government may have used chemical weapons against opposition forces, leading to concerns that Western nations may have to step up their involvement in the crisis.

Prices had been boosted earlier by data showing a drop in new claims for unemployment benefits in the US last week.

By 16:10 GMT, June Brent crude had hit a high of $102.84/bbl, a gain of $1.11/bbl from Wednesday’s close of $101.73/bbl, before easing back to around $102.75/bbl.

At the same time, June NYMEX light sweet crude futures were trading around $92.40/bbl, having hit a high of $92.49/bbl, a gain of $1.06/bbl from the previous close of $91.43/bbl.

By: Tony Dillon
+44 20 8652 3214

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