WTI crude oil price ends the week at $82, US dollar mixed

WTI crude oil prices close off the week’s trading back around $82 a barrel as global markets remain volatile while the US dollar lost some ground against the euro on the currency markets.

WTI Oil Futures – Closing Price

US Light crude oil futures for September 2011 delivery ended the week’s trading session at $82.71 a barrel on the NYMEX, $2.67 lower than last weeks closing price of $85.38 a barrel. WTI oil for September delivery expired yesterday.

Meanwhile, the US dollar fell to record lows against the yen, and was also trading lower against the euro. A weak US dollar normally helps crude oil prices by making oil cheaper for buyers in other currencies.

The dollar may face increased headwinds in the week ahead should Fed Chairman Ben Bernanke show an increased willingness to expand monetary policy further.

“You’ve got to watch everything here. Every index, every currency is affecting oil movements.” said Tony Rosado, a broker at GA Global Markets.

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WTI crude oil price ends the week at $82, US dollar mixed