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September 13, 2009

Oil Price Slips on Stronger Dollar

Crude oil futures fell as the US dollar strengthened slightly while worries over high oil product stocks and technical resistance weighed on the market, according to Dow Jones. On the New York Mercantile Exchange, light, sweet crude futures for October delivery traded at $68.24 a barre

By cms admin

Crude oil futures fell as the US dollar strengthened slightly while worries over high oil product stocks and technical resistance weighed on the market, according to Dow Jones.

On the New York Mercantile Exchange, light, sweet crude futures for October delivery traded at $68.24 a barrel, down $1.05 in the Globex electronic session.

On Friday last week, October Brent crude on London’s ICE Futures exchange was down $0.68 at $67 a barrel.

According to US Government data last week, diesel and heating oil stocks were at their highest level since January 1983.

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