WSJ:OIL FUTURES: Brent, Nymex Turn Negative As Dollar Strengthens
LONDON (Dow Jones)--Crude oil futures Thursday reversed an earlier rally and fell as the dollar strengthened against the euro, making oil more expensive for holders of other currencies.
At 1013 GMT, the front-month September contract on the New York Mercantile Exchange was trading down 35 cents, or 0.4%, at $82.54 a barrel. The front-month September Brent contract on London's ICE futures exchange was down 78 cents, or 0.7%, at $105.90 a barrel.
Oil had earlier been higher as it tracked strength in European equities markets, a key indicator of sentiment, but detached from steadying stock markets as the dollar strengthened against the euro, traders said.
