NEW YORK – Crude oil prices closed up above the level of thin USD78 per barrel at the close of trading Tuesday local time. The strengthening U.S. dollar oil price triggers to stay under USD79 per barrel, while most traders were on vacation.

As quoted by the Associated Press, Wednesday (30/12/2009), the reference price of oil for February delivery contracts rose to the level of USD78, 87 per barrel on the New York Mercantile Exchange (NYMEX). Level is the highest since mid-November.

While in London, the price of Brent oil for February contract rose 32 cents to $ 77 U.S. dollars, 64 per barrel on the ICE Futures.

The strengthening U.S. dollar against other currencies pushed oil prices, which uses the currency and investors holding other currencies could not buy more when the dollar strengthened.

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