LONDON, Aug 22 (Reuters) - U.S. crude oil futures
rose more than $1 a barrel on Monday as the dollar eased against
a basket of currencies and as stock markets rose on hopes for a
swift end to the conflict in Libya.
The benchmark September U.S. crude contract rose to a high
of $83.36, up $1.10 per barrel, before slipping back to trade at
around $83.00 by 1039 GMT.
"It is just the fact that the dollar is weaker," said
Michael Hewson, analyst at CMC Markets in London.
Brent crude futures remained sharply lower, down
$1.50 at $107.12, depressed by expectations that Libyan oil
exports might resume soon. Dealers said the Brent contract was
much more exposed to supply and demand fluctuations in the
international oil market than its U.S. counterpart.
(Reporting by Christopher Johnson; editing by Jason Neely)
