U.S. crude futures up $1 on dollar, China imports

Wed Nov 11, 2009 2:18pm GMT
 
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NEW YORK, Nov 11 (Reuters) - U.S. crude futures rose $1 on Wednesday on the dollar's weakness and data showing China continued to import crude at a rapid rate in October.

Those factors helped offset the late Tuesday oil inventory report from the American Petroleum Institute showing crude stocks rose more than expected last week and that product inventories also rose. [API/S]

On the New York Mercantile Exchange at 9:14 a.m. EST (1414 GMT), December crude CLZ9 was up 98 cents, or 1.24 percent, at $80.03 a barrel, trading from $78.60 to $80.07. (Reporting by Robert Gibbons; Editing by John Picinich)

 

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