NYMEX crude gains over $1, back above $114/bbl

13 August 2008 15:10  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures gained more than $1/bbl on Wednesday to take the front month September contract back above $114/bbl on a weaker performing US dollar.

 

The rise came ahead of the weekly US stock figures which were expected to show draws on both crude and gasoline.

 

By 13:50 GMT, September NYMEX crude had hit a high of $114.22/bbl, a gain of $1.21/bbl from the Tuesday close of $113.01/bbl, before easing back to around $114.00/bbl.

 

At the same time, September Brent crude on ICE Futures was trading around $112.00/bbl, having hit a high of $112.41/bbl, a gain of $1.26/bbl from the previous close.

 

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Author: Tony Dillon
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