Oil turns slightly higher as dollar holds

Economies.com
2021-06-24 17:58PM UTC

Oil prices rose on Thursday, and erased their earlier losses, as the US dollar held against most major currencies.

 

The Energy Information Administration reported yesterday that the US crude inventories fell 7.6 million barrels to 459.1 million barrels during the past week, while analysts forecasts a drop by 6.3 million barrels.

 

The Saudi Energy Minister Prince Abdulaziz Bin Salman said that  OPEC+ alliance has a role in taming and containing inflationary pressures that impact the market.

 

The dollar index held against a basket of major currencies by at 91.8 points as of 17:44 GMT, after hitting a high of 91.8 points and a low of 91.6 points.

 

As of 17:39 GMT, WTI crude August futures rose 0.1% to $73.1 a barrel, after hitting a high of $73.6 and a low of $72.3.

 

Brent August futures rose 0.2% to $75.3 a barrel, after hitting a high of $75.7 and a low of $74.7.

Commodities News

Gold News

Commodities

Gold rushes above $2400 as Israel attacks Iran
2024-04-19 07:41AM UTC
Gold prices rose in European trade on Friday, extending gains for a second day and trading above ...
Gold News

Commodities

Gold returns higher towards $2400
2024-04-18 18:59PM UTC
Gold prices rose on Thursday as the dollar advanced against most major rivals amid mounting ...
Gold News

Commodities

Gold advances towards unprecedented peaks
2024-04-18 09:21AM UTC
Gold prices rose in European trade on Thursday, resuming gains and moving once again towards record ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Brent Oil Price Analysis Expected Scenario The Brent oil price bounced downwards strongly ...
Oil Analysis

Commodities

Crude oil price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price couldn’t manage to hold ...
Gold Analysis

Commodities

Gold price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Gold Price Analysis Expected Scenario Gold price faces temporary negative pressure after ...