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Crude inches up on hurricane in Gulf of Mexco: 8/10 PM

2017/08/10 17:15

The September crude oil futures contract in NYMEX ACCESS trade at 16:15 Tokyo time on Thursday was at $49.74 per barrel (bbl), up 20cts from levels at 11:15 while the October Brent contract in ICE After Hours Trading was at $52.92/bbl, up 25cts. “An approach of the hurricane to the crude export terminals on the Gulf of Mexico has led to active buying,” said Takayuki Nogami, a chief economist at Japan Oil, Gas and Metals National Corporation (JOGMEC). There were views that a possible impact on the major industry ports such as Cayo Arcas, may disrupt crude exports from Mexico to US, a factor that would promote buying especially in near-term futures contracts. Meanwhile, the Nikkei Stock Average fell for a third straight day by 8.97 points from Wednesday to end at 19,729.74 as the US dollar was traded at 110.93 against the yen versus 110.06 in the morning Tokyo time.

 

RECX-22 index for Thursday was at 89.84 points, down 0.39 points from Wednesday amid decreases for export and import indices.

 

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