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US crude futures up $1 as dollar pull-back deepens

Published 05/27/2011, 08:45 AM
Updated 05/27/2011, 08:48 AM
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NEW YORK, May 27 (Reuters) - U.S. crude oil futures extended gains to more than $1 on Friday as the dollar deepened its retreat following upbeat comments on Greece from an ECB member, and ahead of the long three-day Memorial Day weekend.

On the New York Mercantile Exchange at 8:38 a.m. EDT (1238 GMT), crude for July delivery traded up 90 cents at $101.13 a barrel, just after hitting a session high of $101.24. Much earlier, it posted a session low of $100.04.

The euro climbed to a session peak of $1.4298 on Friday after European Central Bank Governing Council member George Provopoulos said that Greece can handle its debt if it sticks to its aid programme. [FRX/] [ID:nFAT007211] (Reporting by Gene Ramos, editing by Jonathan Leff)

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