Crude oil prices close trading higher for 2nd week running

Crude oil prices are trading closer to the $80 mark at close on Friday as both NYMEX and ICE oil futures contracts saw an increase of several dollars this week. This Week’s Oil Futures Closing Prices In the week ending 19th June, WTI Light crude oil futures for July closed at $77.18 a barrel on the NYMEX, while Brent crude oil futures closed at $78.22 a barrel on the ICE Futures Exchange. Last Week’s Oil Futures Closing Prices In the week ending 12th June, WTI Light crude oil futures closed at $73.78 a barrel on the NYMEX, while Brent crude oil futures closed at $74.35 on the ICE Futures Exchange. Prices of long dated WTI US crude, which include contracts to December 2018, have remained fairly steady around $95 since BP’s Deepwater Horizon explosion on April 20th 2010. But possible effects on the oil industry from the Gulf of Mexico oil spill continues to be a factor, especially if it limits growth in deepwater oil supplies if tougher new US regulations that increase costs are imposed. “Oil prices pushed higher over the past week, gaining in line with other commodities amid improving risk sentiment and a pronounced correction in the dollar index,” added VTB Capital analyst Andrey Kryuchenkov. “We continue to see an uptrend in oil prices over June and July as demand seasonally increases, and if forecasts for an active 2010 hurricane season are borne out, oil supply risks could mitigate a tempering of autumn demand,” analysts at JPMorgan Chase said in a report. Crude oil prices trading steady in $77 to $80 range Light oil prices end the week well above $80 trading range Brent oil trading lower on continued euro debt concerns Crude oil prices hit 2010 trading high on falling US dollar WTI oil price jumps higher in a mixed trading week Oil prices end week around $74 mark in uncertain market Crude oil prices fall four percent on gloomy US jobs data Oil prices open trading around $72 mark, US dollar gains Oil prices trading at $71 mark, following stock markets Brent oil rollercoaster ride ahead as EU sets euro strategy Oil prices back at $70 range after 20 percent May losses Oil prices back in $85 to $90 trading range, in mixed week Oil prices start the week trading higher on US data Euro in Greek tailspin, US dollar firms & oil prices holding out Brent oil price trading at 2010 highs on contract expiry Light oil price trading up as US dollar takes a knock Oil prices trading higher on Monday amid weaker US dollar Crude oil prices gain as traders eye global stock markets Oil prices trading down two percent on stronger US dollar Oil prices trading steady, eyes on US dollar index

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Crude oil prices close trading higher for 2nd week running