Crude prices return higher to above $50

Crude prices returned higher on Thursday to above $50 a barrel after falling for three straight sessions, as the dollar retreated, helping prices advance.
 
U.S. crude futures last traded at $50.10 a barrel, up from the opening price of $49.81, with an intraday high at $50.41, and a low at $49.60.
 
Crude's rise comes after the dollar hit a three-week low against major currencies, underpinning the greenback-denominated crude futures as they go in opposite ways.
 
On the other hand, U.S. crude inventories fell last week, indicating strong U.S. demand and helping crude prices rise, specially as markets digest the ECB policy decisions.
 
Concerns remain in the markets about OPEC's production cut not being enough to sap the global oversupply, with prices falling for three sessions in a row, specially after OPEC and and Russia's production rose to record highs last month.