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Oil market update: Nymex lifted by firmer equities

  • Märkte: Biofuels, Biomass, Coal, Corporate, Crude oil, Electricity, Emissions, Freight, Fundamentals, LPG, Natural gas, Oil products, Petroleum coke, Politics
  • 03.08.09

Singapore, 3 August (Argus) — Nymex crude futures firmed in today's after-hours session amid stronger equities markets.

At 08:30 GMT, the front-month September US crude futures contract was at $70.60/bl, rising by $1.15/bl from its close at the end of last week when the contract rose by $2.51/bl.

The Nymex September front-month heating oil futures contract in after-hours trade rose by 2.34¢/USG to $1.8559/USG. Nymex September RBOB gasoline prices rose by 1.88¢/USG to $2.0314/USG.

Market sentiment has been bolstered by data that showed the US economy in the second quarter contracted by a smaller percentage than expected.

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