NYMEX gains $1/bbl on China crude imports, weak US dollar

13 October 2010 10:11  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures gained more than $1.00/bbl on Wednesday to take the front month November contract above $82/bbl on the back of an increase in China crude imports in September, expectations of more US stimulus policies and a weaker dollar.

 

By 08:50 GMT, November NYMEX crude had hit a high of $82.82/bbl, a gain of $1.15/bbl from the Tuesday close of $81.67/bbl, before easing back to around $82.75/bbl.

 

At the same time, November Brent crude on ICE Futures was trading around $84.45/bbl, having hit a high of $84.47/bbl, a gain of $0.97/bbl from the previous close.

 

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By: Giovanni Coiro
+44 20 8652 3214

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