An increase in oil prices as the US dollar falls

Washington-SANA

Oil prices rose today with the decline of the US dollar, but the gains were restricted by concerns about the impact of an increase in Coronavirus infections on demand for crude.

Reuters reported that the world benchmark Brent crude contracts ended the trading session up 0,4% to record at settlement $ 67,05 a barrel after rising 6% last week, while the US benchmark West Texas Intermediate crude contracts increased 0,40% to reach at settlement $ 63,38 a barrel after it ended last week on gains. It amounted to 6.4 percent.

The US dollar traded at its lowest level in six weeks against its major currency rivals today, while benchmark Treasury yields hovered near their lowest levels in five weeks.