US crude falls on China fuel price hike

19 June 2008 18:46  [Source: ICIS news]

HOUSTON (ICIS news)--NYMEX light sweet crude futures for July delivery sold down by $4.36 to $132.32/bbl on Thursday following a report that China was hiking fuel prices, which could result in lower oil demand.

Overnight reports of a militant attack against a Nigerian oil installation - causing production shutdowns - lifted prices to $137.82/bbl before the rally was capped.

A decline in jobless claims in the US provided support to the dollar and inspired the sell off.

To discuss issues facing the chemical industry go to ICIS connect

By: Ignacio Sotolongo
+1 713 525 2653

< previous article(VIDEO – ICIS news Americas Lunchtime Bulletin 27 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly