Crude down $1/bbl as US dollar firms ahead of hurricane Sandy

29 October 2012 16:35  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures fell over $1.00/bbl on Monday to take the front-month December WTI contract close to $85.00/bbl on the back of a firmer US dollar as investors flocked to the normal safe haven with the Wall Street stock markets closed due to the threat from Hurricane Sandy.

By 16:15 GMT, December NYMEX crude had hit a low of $85.14/bbl, a loss of $1.14/bbl from the Friday close of $86.28/bbl, before recovering to around $85.30/bbl.

At the same time, December Brent crude on ICE Futures was trading around $109.25/bbl, having hit a low of $108.51/bbl, a loss of $1.04bbl from the previous close of $109.55/bbl.

By: Tony Dillon
+44 20 8652 3214

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