Referenced Stocks

Energy Currents: Crude Lower as Euro Weakens

By Midnight Trader,  June 27, 2011, 09:18:59 AM EDT

Crude oil starts the week lower near $90 a barrel with the U.S. strengthening against the Euro and other currencies, pushing down on dollar-demoninated commodities and keeping the market in sell mode.

The selling bias remains especially strong for Brent crude, which has cut the spread between West Texas Intermediate traded in New York and Brent contracts traded in Europe to around $15 -- or nearly a third less than it was prior to the IEA moving to release 60 million barrels of oil during August.

At 9:15

AUG Crude WTI ( NY ) $90.28 -0.90

AUG Brent Crude (ICE) $104.05 -1.07

JUL Natural Gas ( NY ) $4.0223 -0.006




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: NY



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