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Article: Nymex Crude Rebounds on Attacks in Saudi Arabia, Nigeria.(New York Mercantile Exchange)(Brief Article)
- Article from:
- The Oil Daily
- Article date:
- December 7, 2004
- Author:
CopyrightCOPYRIGHT 2004 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Crude futures rebounded on Monday, rising by as much as $1 per barrel on fresh concerns about supply following attacks in Saudi Arabia, Iraq and Nigeria and calls by some Opec members to cut production when the group meets in Cairo this week.
At the close of the session, January light, sweet crude was up 44cents at $42.98/bbl on the New York Mercantile Exchange (Nymex), while January heating oil closed up 1.38cents at $1.2497 per gallon. In London, January Brent crude settled up 29cents at $39.65/bbl on the International Petroleum Exchange.
Last week, crude lost more than $6.50/bbl on the Nymex because of rising inventories, slowing demand due to mild ...