Nymex front-month WTI exceeded $78/bl on 16 October for the first time in a year. Price gains accelerated after a larger than expected drop in US gasoline inventories. Ice front-month Brent peaked at close to $77/bl on 16 October, also a one-year high.The price of options to buy Nymex December 2009 WTI at $80/bl was more than $3.20/bl on 15 October, its highest since late August. Non-commercial, net-long WTI positions on Nymex climbed to 50,000 lots in the week to 6 October, from about 42,000 lots a week earlier.
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