Crude down $1/bbl on Chinese data, US stock build

01 May 2013 11:37  [Source: ICIS news]

LONDON (ICIS)--Crude prices fell more than $1.00/bbl on Wednesday to take Brent crude on ICE Futures close to $101.00/bbl as disappointing Chinese manufacturing data added to US oil stock data from the American Petroleum Institute (API) showing a much larger build on crude than forecast.

By 10:15 GMT, June Brent crude had hit a low of $101.02/bbl, a loss of $1.35/bbl from Tuesday’s close of $102.37/bbl, before recovering to around $101.15/bbl.

At the same time, June NYMEX light sweet crude futures were trading around $92.30/bbl, having hit a low of $92.29/bbl, a loss of $1.17/bbl from the previous close of $93.46/bbl.

By: Tony Dillon
+44 20 8652 3214

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