US crude futures rise $1.00/bbl on weak dollar

14 April 2011 21:23  [Source: ICIS news]

HOUSTON (ICIS)--NYMEX light sweet crude for May delivery settled up by $1.00 at $108.11/bbl on Thursday in volatile trading in response to weakness in the US dollar versus a basket of currencies.

A weak jobs report showing a rise in jobless claims pressured the dollar and attracted buying across various commodities.

May crude finished up for the second consecutive session, topping out at $108.55/bbl, up $1.44, before chopping around just off the highs.

The expiring May ICE Brent contract settled at $122.36, down 52 cents.


By: Ignacio Sotolongo
+1 713 525 2653



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