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