Crude oil extends gains to $2/bbl as dollar slides

22 September 2009 14:46  [Source: ICIS news]

LONDON (ICIS news)--NYMEX light sweet crude futures gained more than $2/bbl on Tuesday to take the November contract close to $72/bbl on the back of a slump in the US dollar.

By 13:15 GMT, November NYMEX crude had hit a high of $71.97/bbl, a gain of $2.04/bbl from the Monday close of $69.93/bbl, before easing back to around $71.90/bbl.

At the same time, November Brent crude on ICE Futures was trading around $70.45/bbl, having hit a high of $70.60/bbl, a gain of $1.91/bbl from the previous close.

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By: Giovanni Coiro
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