WSJ:OIL FUTURES:Brent, Nymex Crude Up As Euro Gains Against Dollar
By Jenny Gross
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)--Brent crude prices rose more than 1% in Friday trading as the euro made gains against the dollar.
"There is a lack of U.S. economic indicators today, so I would say that currency movements are going to be the key elements for investors to watch," said Myrto Sokou, an analyst at Sucden Financial.
A strong dollar makes purchasing oil more expensive for holders of currencies other than the greenback.
Sokou said Nymex crude prices would likely hover in a tight range around the $100 a barrel level.
At 0948 GMT, ICE December Brent was up $1.21, or 1.1%, at $109.43 a barrel. Nymex December crude was up 76 cents, or 0.8%, at $99.58 a barrel. The euro was at $1.3542 from $1.3459 late Thursday in New York.
-By Jenny Gross, Dow Jones Newswires; 4420-7842-9239; jenny.gross@dowjones.com
