04 September 2012 20:32 [Source: ICIS news]
HOUSTON (ICIS)--NYMEX light sweet crude (WTI) for October delivery settled at $95.30/bbl on Tuesday, down $1.17 versus the previous close, tracking a sell-off in the stock market and the dollar rising against the euro.
After the long holiday weekend, released data showing a decline in the US manufacturing sector and weak construction spending drove crude prices down on sentiment of struggling energy demand.
Energy installations in the US Gulf coast region continued work to restore output following the muted impact of Hurricane Isaac.
The weekly supply inventories from the American Petroleum Institute (API) and the Energy Information Administration (EIA) will be delayed by one day this week as a result of the Monday US holiday.
WTI established an intra-day low of $94.97/bbl, down $1.50, before rebounding.
ICE Brent for October delivery bottomed out at $113.93/bbl and settled at $114.18/bbl.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections