US crude rises $2.50/bbl on stock market rally, weaker dollar

15 August 2011 20:55  [Source: ICIS news]

HOUSTON (ICIS)--NYMEX light sweet crude for September delivery settled at $87.88/bbl, up $2.50, tracking a rally in the stock market.

The dollar shifted lower versus the euro, encouraging buying across various commodities.

September crude surged to $88.05/bbl, up $2.67 versus the previous close, before settling just off the top of the range.

ICE Brent lagged behind its American counterpart, settling in September at $109.91/bbl, up $1.88.

By: Ignacio Sotolongo
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