19 March 2010 19:48 [Source: ICIS news]
HOUSTON (ICIS news)--NYMEX light sweet crude for April delivery settled at $80.68/bbl on Friday, down $1.52 versus Thursday’s close, driven mainly by a stronger dollar and booksquaring ahead of contract expiration.
April crude topped out at $82.17/bbl before capping the rally and aggressive selling entered the market. An intra-day low of $79.86/bbl was established at which point the dip attracted buying. The April crude contract goes off the board on Monday.
Commodities and equities continue to respond to a seesawing dollar, with crude prices responding accordingly as investors shift their views about risk taking.
ICE Brent for May delivery sold down to $79.20/bbl and settled at $79.88/bbl, down $1.60.To discuss issues facing the chemical industry go to ICIS connect
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