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Energy Currents: Crude Extends Upside Run, Nears $99 a Barrel

By: MT Newswires
Posted: 7/20/2011 9:19:00 AM
Referenced Stocks: ICE;NY

Crude oil futures are up more than $1 a barrel this morning after the September contract climbed $1.60 to settle at $97.86 a barrel yesterday. Dollar weakness contributed to the gains as well as a broader optimistism that carried most markets higher as progress appeared close in the US debt ceiling debate as well as Euro-zone debt issues. The rally also is supporting natural gas.

At 9:15 a.m.

SEP WTI Crude $98.68 +1.18

SEP Brent Crude ( ICE ) $118.70 +0.64

AUG Natural Gas ( NY ) $4.566 +0.033