6-May-2011 10:15 AM

WTI and Brent crude drop 8.6% to hit lowest since Mar-2011

WTI crude on the New York Mercantile Exchange declined USD9.44 per barrel to settle 8.6% lower at USD99.80 a barrel yesterday, the first time it has settled below USD100 since 16-Mar-2011 (The Australian, 06-May-2011). The fall is the largest single-day percentage decline for the contract since 20-Apr-2009. On the ICE futures exchange Brent crude also dropped 8.6%, losing USD10.39 per barrel to settle at USB110.80 per barrel, also the lowest settlement since 16-Mar-2011.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More