August crude futures on the New York Mercantile Exchange settled 62 cents higher at 72.81/harrel July 10 in a product-led rally with an assist from the US dollar,which fell to a 30-month low."The primary feature to today's trade was an extension of yesterday's crack spread expansion with the August product contracts providing further upside leadership," energy consultant Jim Ritterbusch said in a report."This week's upside lead from the gasoline follows last week's trade in which the crude market generally provided the lead.This rotation back and forth amongst members of the complex is often indicative of a sustainable bull market."
展开▼
