07 October 2010 21:02 [Source: ICIS news]
HOUSTON (ICIS)--NYMEX light sweet crude for November delivery settled at $81.67/bbl on Thursday, down $1.56 from Wednesday after a rally in the US dollar triggered a downside correction to overbought conditions.
Crude prices had hit 5-month highs early in the session, topping out at $84.43/bbl - up $1.20 - before the buying was exhausted.
A recovery in the dollar pressured commodity prices and November crude futures sold down to $81.00/bbl, down $2.23, before rebounding ahead of the closing bell.
November ICE Brent established a low of $82.93/bbl before closing at $83.43, down $1.63.
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|