Crude down $1/bbl on firm dollar, profit-taking

20 July 2012 11:02  [Source: ICIS news]

LONDON (ICIS)--Crude prices fell more than $1.00/bbl on Friday to take Brent crude on ICE Futures back below $107.00/bbl on the back of a firmer US dollar and pre-weekend profit taking, having gained more than $6.00/bbl over the week.

By 09:30 GMT, September Brent crude had hit a low of $106.56/bbl, a loss of $1.24/bbl from Thursday’s close of $107.80/bbl, before recovering to around $106.65/bbl.

At the same time, August NYMEX light sweet crude futures were trading around $91.75/bbl, having hit a low of $91.69/bbl, a loss of 97 cents/bbl from the previous close of $92.66/bbl.

By: Tony Dillon
+44 20 8652 3214

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