NYMEX crude hits new high,then drifts lower

摘要

New York-July crude futures on the New York Mercantile Exchange settled 25 cents lower at 134.61/barrel June 16 after hitting an all-time high of 139.89/b.Prices rallied prior to the start of open outcry as the US dollar failed to hold onto last week's gains and tensions between the west and Iran intensified.The rally came despite news Saudi Arabia would further increase crude production (see story,p.1).