Brent oil prices open Friday’s trading session near $113 a barrel as a stronger US dollar helps cap recent gains, as seen by a higher ICE US Dollar Index. Latest Brent Oil Price In London, Brent crude oil futures for August 2011 delivery was trading at $113.43 a barrel, 07.40 GMT this morning on the ICE Futures Exchange. The July 2011 Brent oil contract expired yesterday evening. Meanwhile, the ICE US Dollar Index, which tracks the US dollar against six major world currencies was trading at 76.115, after closing yesterday’s session at 76.224. The US dollar rally came yesterday as riots in Greece stole the spotlight, highlighting the country’s continued struggles with fiscal policy and crippling debt. While another financial bailout is being discussed for Greece, investors fear that deteriorating political and economic confidence in the EU’s weaker member countries will prove contagious, which prompted the market to embrace the US dollar as a relatively safe investment, pushing commodities and oil prices lower. “The market is still very nervous.” said Peter Beutel, head of the oil trading advisory firm Cameron Hanover.

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