6 September 2010, 17:16  Oil prices diverge today

World oil prices diverged today, the end of the traditional peak demand season for motor fuel in the US. New York's main contract, light sweet crude for delivery in October, fell 44 cents to $74.16 a barrel. Brent North Sea crude for October rose 14 cents to $76.81 in London trade. Today signalled the end of the US 'driving season', or peak demand period for petrol between May and September in the US when Americans traditionally drive long distance for their summer holidays. With the driving season over, market attention was focused on the ongoing hurricane season to see whether energy production in the Gulf of Mexico would suffer disruption. US stock markets are closed today for the Labor Day holiday.

© 1999-2024 Forex EuroClub
All rights reserved