WSJ:OIL FUTURES: Brent November Crude Down Over 1% At $110.19
LONDON (Dow Jones)--Brent crude prices on the November contract fell more than 1% in Thursday trading after six days of gains as the dollar reclaimed ground against the euro.
"We went up yesterday on the back of the strength of the euro, and we're having a bit of a correction now," said Glen Ward, head of retail derivatives at London Capital Group. "I don't think we're going to see a huge move. All eyes are going to be on the stats coming out today from the DOE, delayed a day by the national holiday in the U.S. this week."
A strong dollar makes purchasing oil more expensive for holders of currencies other than the greenback.
At 0955 GMT, ICE November Brent was down 1% at $110.19 a barrel. Nymex November crude was at $84.10. The Brent November contract expires Friday.
-By Jenny Gross, Dow Jones Newswires; 4420-7842-9239; jenny.gross@dowjones.com
