Brent extends losses to $2/bbl, moves below $107/bbl

01 November 2013 14:55  [Source: ICIS news]

LONDON (ICIS)--Crude prices extended losses to more than $2.00/bbl on Friday to take Brent crude on ICE Futures below $107.00/bbl as pre-weekend position liquidation on the back of a firm US dollar triggered some technical sell stops.

By 14:20 GMT, December Brent crude had hit a low of $106.64/bbl, a loss of $2.20/bbl from Thursday’s close of $108.84/bbl, before recovering to around $106.75/bbl.

At the same time, December NYMEX light sweet crude futures were trading around $95.05/bbl, having hit a low of $94.97/bbl, a loss of $1.41/bbl from the previous close of $96.38/bbl.

By: Tony Dillon
+44 20 8652 3214

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