Crude oil rose in Asian trade, on Thursday, as a weaker dollar helped prices shrug off a massive increase in US crude reserves. New York's main contract, light sweet crude for delivery in October climbed 27 cents, to 72.79 dollars a barrel. Brent North Sea crude for October delivery rose 37 cents, to 73.85 dollars a barrel. The Commonwealth Bank of Australia said in a report that a weakening greenback persuaded traders to buy into crude markets despite data from the US Department of Energy yesterday showing soaring crude stockpiles
News On AIR | August 26, 2010 4:57 PM
Crude oil rises in Asian trade