Chemical News
Crude falls $3 as storm concerns ease
http://www.chemnet.com Jul 23,2008 Xinhua
NEW YORK -- Crude-oil futures lost 3 U.S. dollars on Tuesday to close at the lowest price in nearly seven weeks, as the dollar rallied and worries eased that Tropical Storm Dolly will hit major oil and gas facilities in the Gulf of Mexico.
Crude for August delivery, scheduled to expire Tuesday, fell 3.09 dollars, or 2.3 percent, to close at 127.95 dollars a barrel on the New York Mercantile Exchange, the lowest closing since June 5.The contract earlier fell 5.41 dollars to an intraday low of 125.63 dollars. Crude for September delivery also tumbled, giving up 3.4 dollars, or 2.6 percent, to close at 128.42 dollars a barrel.
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