Oil prices rose on Wednesday for the first time in three sessions to trade around $75 a barrel, bouncing with equities and supported by a weaker dollar as concerns over the European banking system eased and investors cautiously bought riskier assets. A weaker U.S. dollar tends to boost the price of dollar-priced commodities as it [...] [...more]
Oil prices extended gains to rise above $73 a barrel Thursday, as regional stock markets advanced and recent sharp losses in crude drew more buyers. Crude has fallen about 11.5% from around $82 a barrel early this month as more evidence of a slowing US economy suggested that demand for oil and gas would remain [...] [...more]
Oil snapped a five-day losing streak to rebound above $76 a barrel on Tuesday as firmer equity markets and a weaker dollar outweighed concerns about the pace of global economic recovery. Oil and other commodities denominated in dollars for global trading tend to rise when the U.S. currency falls as they become cheaper for holders [...] [...more]
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