Brent crude oil price rises to $50 on weak dollar
Автор: CGTN Africa
Загружено: 2016-06-06
Просмотров: 497
Описание: Brent crude oil prices rose on Monday thanks to a cheaper dollar. This, despite limited supplies after attacks on Nigerian oil infrastructure. Brent crude futures rose as high as 50 dollars and 10 cents a barrel, while U.S. crude futures were up 0.8% to 49 dollars. A weaker dollar supports fuel demand in the rest of the world as it makes dollar-traded oil imports cheaper. Traders said prices were also propped up by attacks on oil infrastructure in Nigeria, which has already pulled the country's output to over 20-year lows.The Muslim holy month of Ramadan is also seen as supportive of prices as driving demand picks up in most Muslim dominated countries.
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