NYMEX crude down $1/bbl on stronger US dollar

04 February 2013 12:40  [Source: ICIS news]

LONDON (ICIS)--NYMEX light sweet crude futures fell over $1.00/bbl on Monday to take the front-month March WTI contract below $97.00/bbl as the US dollar rallied against the euro in the currency markets following disappointing Spanish jobs data.

By 12:20 GMT, March NYMEX crude had hit a low of $96.73/bbl, a loss of $1.04/bbl from the Friday close of $97.77/bbl, before recovering to around $96.85/bbl.

At the same time, March Brent crude on ICE Futures was trading around $116.05/bbl, having hit a low of $115.86/bbl, a loss of 90 cents/bbl from the previous close of $116.76/bbl.

By: Tony Dillon
+44 20 8652 3214

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