Crude prices fall by $1/bbl on weak stock markets, firm dollar

07 September 2010 11:29  [Source: ICIS news]

LONDON (ICIS)--Crude prices fell by more than $1.00/bbl on Tuesday to take Brent crude on ICE Futures below $76.00/bbl on the back of weaker global stock markets and a firmer US dollar.

By 10:15 GMT, October Brent crude had hit a low of $75.63/bbl, a loss of $1.24 from the Monday close of $76.87, before recovering to around $75.70.

At the same time, October NYMEX light sweet crude futures was trading around $72.90/bbl, having hit a low of $72.86, a loss of $1.74 from the pre-Labor Day close of $74.60/bbl.

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Author: Tony Dilllon

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