NYMEX crude falls as dollar rallies following Bernanke speech

15 October 2010 17:32  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures fell more than $1/bbl on Friday to take the front month November contract below $82/bbl as the US dollar rallied following a statement by Federal Reserve chairman Ben Bernanke suggesting that further monetary easing was needed to support the economy.

By 16:15 GMT, November NYMEX crude had hit a low of $81.22/bbl, a loss of $1.47/bbl from the Thursday close of $82.69/bbl, before recovering to around $81.55/bbl.

At the same time, December Brent crude on ICE Futures was trading around $82.80/bbl, having hit a low of $82.46/bbl, a loss of $1.74/bbl from the previous close.

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By: Tony Dillon
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