Crude Oil Moves Respond Mixed US Economic Dat

Indonesia News-After a relentless decline due to oversupply worsens, oil futures contract closed down in London, but rose in New York as the US dollar weakened in the money market.The US dollar slipped against a basket of other major currencies after data showed US economic growth in the second quarter was worse than expected.The dollar index, which measures the greenback against six major currencies, fell 1.17 percent to 95.603 in late trading.

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A weaker dollar can make oil more attractive to buyers. The dollar fell slightly following the release of US economic growth figures were disappointing from the US Department of Commerce.US benchmark crude West Texas Intermediate (WTI) for September delivery rose 46 cents to USD41,60 barrel on the New York Mercantile Exchange. The increase halt losing streak for six consecutive sessions.In London, Brent North Sea crude, also for delivery in September, fell 24 cents to end at 42.46 dollars a barrel on the Intercontinental Exchange.US Energy Information Administration (EIA) said in its weekly report that US crude inventories rose 1.7 million barrels last week to 521.1 million barrels, and ended the seven-week decline in a row and beat the market consensus for a drop of 2.3 million barrel.(Aut)