US crude futures rise $1.21/bbl on weak US dollar

03 August 2010 20:29  [Source: ICIS news]

HOUSTON (ICIS)--NYMEX light sweet crude for September delivery extended Monday’s gains and settled at $82.55/bbl on Tuesday, up $1.21 as market speculators sold the dollar and bought commodities.

Oil futures rose to $82.64/bbl, up $1.30, before settling just off the top of the range.

The stock market failed to provide support, falling in response to mixed economic data and helped keep the crude rally in check.

Summer maintenance on North Sea offshore platforms supported the Brent market, with September outperforming its American counterpart, rising to $82.80/bbl, before closing at $82.68, up $1.86.

To discuss issues facing the chemical industry go to ICIS connect


By: Ignacio Sotolongo
+1 713 525 2653



AddThis Social Bookmark Button

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

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index