Crude oil up $1/bbl as euro gains against the US dollar

26 March 2010 12:23  [Source: ICIS news]

LONDON (ICIS news)--Crude prices gained more than $1/bbl on Friday to take Brent crude on ICE Futures close to $81/bbl as the euro gained against the US dollar after confidence over the Greek debt crisis was restored by an agreement of a rescue package.

By 11:45 GMT, May Brent crude had hit a high of $80.68/bbl, a gain of $1.07/bbl from the Thursday close of $79.61/bbl, before easing back to around $80.55/bbl.

At the same time, May NYMEX light sweet crude futures was trading around $81.30/bbl, having hit a high of $81.46/bbl, a gain of $0.93/bbl from the previous close.

($1 = €0.75)

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By: Giovanni Coiro
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