NYMEX crude breaks above $82/bbl on weak US dollar

03 August 2010 14:57  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures gained more than $1/bbl on Tuesday to take the front-month September contract above $82/bbl as a result of the continued weakness of the US dollar in the currency markets.

By 14:30 GMT, September NYMEX crude gained $1.13/bbl from the previous close of $81.34/bbl to hit a high of $82.47/bbl, before easing back to around $82/bbl.

At the same time, September Brent crude on the ICE futures exchange was trading around $81.75/bbl, having hit a high of $82.25/bbl, which was a gain of $1.43/bbl from the previous close.

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By: Tony Dillon
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