Euro rose in European trade against dollar for the fourth straight session, almost hitting four-month highs amid fading concerns about the policy gap between Europe and the US. 

The greenback is trading near three-month lows under pressure from Fed's minutes, which bolstered the case for a 0.5% rate hike in December.

EUR/USD rose 0.2% to 1.0428, after closing up 0.15% yesterday, the third profit in a row as risk appetite improves in the market. 

Euro is up over 1% so far this week against dollar on track for the second weekly profit in three weeks. 

Euro hit four-month highs at 1.0481 earlier this month before entering a wave of losses on active profit-taking. 

Current gains come amid fading concerns about the policy gap between the US and Europe, with the ECB expected to raise rates by 75 basis points in December. 

The Dollar

The dollar index last traded near three-month lows at 105.34 against a basket of major rivals. 

Latest Federal Reserve minutes showed US policymakers are content about their ability to move forward and raise interest rates in a slower place. 

Oil prices fell on Thursday despite calm trading with US crude extending losses as Covid 19 infections spread in China.

Chinese authorities extended its range of restrictions and closures on major cities, including Shanghai. 

Health authorities also recorded over 33 thousand infections in a single day in China, the world's largest crude oil consumer. 

However markets remain mostly calm amid the Thanksgiving holiday, as US markets close, both bonds and stocks.

For the time being investors will assess latest Fed statements and the latest meeting minutes to gauge next steps. 

US crude futures due in January fell 0.3% to $77.7 a barrel as of 16:23 GMT. 

Brent January futures fell 0.8% to $84.7 a barrel. 

US stock indices closed today for the Thanksgiving official holidays with the bonds markets closed as well.

Wall Street will reopen tomorrow on Friday with investors assessing monetary policies in upcoming months. 

Oil prices fell in European trade on Thursday for another session, almost hitting 10-month lows amid mounting dispute between EU countries on price ceilings for Russian crude.

Such considerations overcame recent US data that showed a larger than expected inventory drawdown in crude stocks last week.

Global Prices

US crude fell 0.6% to $76.97 a barrel, with a session-high at $78.18, while Brent declined over 0.5% to $84.09 a barrel. 

US crude lost 4.5% on Wednesday, while Brent declined 4.4%, resuming the losses after a short hiatus.

European Dispute 

Talks among European countries on putting a price ceiling for Russian crude are hindered with government split on how to design the plan.

The executive branch of the EU suggested putting the ceiling at $65, with Poland and the Baltic countries considering it too generous. 

Other countries with large shipping industries like Greece and Malta refused to push prices below $70, which was the upper limit imposed by the EU earlier this week.

US Stocks 

The Energy Information Administration reported a tumble in US crude stocks by 3.7 million barrels to 431.7 million barrels, while analysts expected a drop of 2.5 million barrels.

Gasoline stocks rose 3.1 million barrels to 211 million barrels, while distillate stocks rose 1.7 million barrels to 109.1 million barrels.