Oil rises as US crude jumps back above $40

2020-07-31 15:16:08 GMT (Economies.com)
Oil rises as US crude jumps back above $40

Oil prices rose on Friday, to recoup some of yesterday's losses, after the US crude fell below the $40 barrier for the first time in 3 weeks.

 

Oil rebounded today from the weak US economic data that was released yesterday and showed the US GDP contracted 32.9% in the second quarter.

 

Baker Hughes will reveal later today the US oil drilling rigs count for this week.

 

The dollar index fell against a basket of currencies by 0.1% to 93.1 points as of 14:02 GMT, after hitting a high of 93.2 and a low of 92.2.

 

As of 13:57 GMT, West Texas Intermediate crude rose 0.6% to $40.1 a barrel, after it hit an intraday high of $40.5 and a low of $39.9.

 

Brent rose 0.8% to $43.2 a barrel, with a high of $43.4 and a low of $43.05.

 
 
 
  Symbol Last Change Chg.%
1.1785
0.0075
0.6435%
1.3052
0.0037
0.2828%
Tadawul
7499.97
10.08
0.13%
28.209
3.962
16.340%
41.550
1.115
2.757%
44.64
-0.45
1.00%
2032.160
62.805
3.189%
 
 
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