WSJ:OIL FUTURES: Crude Up Buoyed By Weak Dollar, Greek Optimism
By Sarah Kent
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)--Brent crude futures rose over $1 a barrel Wednesday, buoyed by a weak dollar and optimism that Greek austerity measures will be voted through later in the day.
However, analysts predict trade will be volatile as investors eye headlines out of Athens.
Price moves today "depend very much on what happens in Greece. That will be very important," said Thina Saltvedt, senior oil market analyst at Nordea Bank Norge.
At 0750 GMT, the front-month August Brent contract on London's ICE futures exchange was 76 cents, or 0.7%, higher at $109.54 a barrel.
The front-month August contract on the New York Mercantile Exchange was trading up 54 cents, or 0.6%, at $93.43 a barrel.
The ICE's gasoil contract for July delivery was up $10.50, or 1.2%, at $901.25 a metric ton, while Nymex gasoline for July delivery was 232 points, or 0.8%, higher at $2.9128 a gallon.
-By Sarah Kent, Dow Jones Newswires; 4420-7842-9376; sarah.kent@dowjones.com
