NYMEX light sweet crude futures down $1/bbl on firm dollar

31 January 2013 14:41  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures fell over $1.00/bbl on Thursday to take the front-month March WTI contract below $97.00/bbl as the US dollar rallied against the euro following some weak German retail sales data while global stock markets also lost ground.

By 14:20 GMT, March NYMEX crude had hit a low of $96.84/bbl, a loss of $1.10/bbl from the Wednesday close of $97.94/bbl, before recovering to around $97.05/bbl.

At the same time, March Brent crude on ICE Futures was trading around $114.45/bbl, having hit a low of $114.28/bbl, a loss of 62 cents/bbl from the previous close of $114.90/bbl.

By: Tony Dillon
+44 20 8652 3214

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