Crude hits a 1-year peak above $80 a barrel; gold near record high
20 Oct 2009
Crude oil prices climbed to a 12-moth peak above $80 a barrel while gold traded near an all-time high of $1,070.80 struck on 14 October as investors sought support of commodities amidst falling currency values.
The US dollar hit a 14-month low against the euro. The dollar index, which measures the US currency again six other major currencies, fell 0.4 per cent to 75.181 - the lowest since August 2008 - at late afternoon trading on the Tokyo market.
In electronic trading on the New York Mercantile Exchange, benchmark US light, sweet crude for November delivery rose 44 cents, or 0.6 per cent, to $80.05 a barrel - the highest for a near month contract since mid-October 2008.
In Asian trading on the Singapore exchange, the contract was trading lower at 79.80 against $80-a-barrel it struck on 14 October 2008.
On Nymex, the December crude contract was trading at $80.24 a barrel, up 28 cents. Heating oil was steady at $2.05 a gallon and November gasoline held steady at $1.99 a gallon while natural gas rose 8.1 cents to $4.92 per 1,000 cubic feet.
North Sea Brent crude for December delivery on the London ICE Futures fell 24 cents to $77.53 a barrel.
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