NYMEX crude up $1/bbl on Libya and weaker US dollar

23 August 2011 09:25  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures gained more than $1.00/bbl on Tuesday to take the front-month October contract above $86.00/bbl on the back of concerns that fighting may not be over in Libya, while a weaker US dollar added further support.

By 08:10 GMT, October NYMEX crude had hit a high of $86.06/bbl, a gain of $1.64/bbl from the Monday close of $84.42/bbl, before easing back to around $85.75/bbl.

At the same time, October Brent crude on ICE Futures was trading around $108.75/bbl, having hit a high of $109.25/bbl, a gain of $0.89/bbl from the previous close.

By: Tony Dillon
+44 20 8652 3214

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