01 February 2012 13:09 [Source: ICIS news]
SINGAPORE (ICIS)--Crude strengthened on Wednesday with ICE Brent futures climbing more than $1/bbl supported by a softer US dollar, positive economic data from ?xml:namespace>
At 12:35 GMT, March Brent crude on
March NYMEX light sweet crude futures (WTI) were trading at $99.35/bbl, up 87 cents/bbl on the previous close. Earlier the
The US dollar fell against the euro and other leading currencies making crude, which is priced in dollars, more attractive to international investors.
Supply worries added further support to prices with US lawmakers considering further sanctions against
The markets have also been buoyed by hopes of an agreement between Greece and its creditors which must be concluded in order for Athens to receive further bailout funds of around €130bn ($171bn) from the EU, European Central Bank (ECB) and the IMF.
($1 = €0.76)
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