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Oil futures – Nymex firms but stays below $72/bl

  • : Biofuels, Biomass, Coal, Corporate, Crude oil, Electricity, Emissions, Freight, Fundamentals, LPG, Natural gas, Oil products, Petroleum coke, Politics, Refinery shutdowns
  • 10/02/08

Singapore, 8 February (Argus) — Nymex crude futures firmed marginally in today's after-hours trade but remained below $72/bl following significant price falls last week.

At 08:30 GMT the front-month Nymex March WTI crude contract was at $71.59/bl, higher by 40¢/bl from its close at the end of last week when the contract ended $1.95/bl lower.

The Ice March Brent crude contract was higher by 33¢/bl to $69.92/bl.

Nymex March heating oil rose by 0.92¢/USG to $1.8840/USG, while Nymex March RBOB gasoline rose by 0.01¢/USG to $1.8865/USG.

Prices fell last week on the back of a stronger US dollar, while higher than expected US job losses in December and January fuelled concerns about an economic recovery that would bring with it increased oil demand.

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