» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 35 | NO. 30 | Friday, July 29, 2011




Oil falls to lowest level in over a month

PABLO GORONDI, Associated Press

Print | Front Page | Email this story

NEW YORK (AP) — Oil is tumbling to the lowest level in more than a month as the dollar strengthened.

Benchmark West Texas Intermediate crude for September delivery fell $1.51 to $90.41 in morning trading on the New York Mercantile Exchange. Brent crude, used to price many international oil varieties, dropped $2.03 to $111.20 per barrel on the ICE Futures exchange in London.

Oil slipped early in the day as the dollar rose against other major currencies. Oil, which is priced in dollars, tends to fall as the dollar rises and makes crude more expensive for investors holding foreign money.

The greenback was stronger versus the yen in particular, following a move by Japan's central bank to weaken its currency.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0