20 September 2010 20:37 [Source: ICIS news]
HOUSTON (ICIS)--NYMEX light sweet crude for October delivery settled at $74.86/bbl on Monday, up $1.20 from Friday in response to a rally in Wall Street and the dollar shifting lower versus a basket of currencies.
The market also factored in expectations of a drawdown in crude inventories as a result of supply losses caused by the Canadian pipeline, which had returned to normal service after being shut down for a week.
Crude oil futures surged to $75.45/bbl, up $1.79, before retreating. The October contract goes off the board on Tuesday.
November ICE Brent topped out at $79.92/bbl, before closing at $79.32, up $1.11.
To discuss issues facing the chemical industry go to ICIS connect
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.
|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|
Asian Chemical Connections