Oil rises on weaker dollar amid demand fears
Brent and WTI climb as dollar slides to 22-month lows against a basket of currencies
24 July 2020 - 07:56
Singapore — Oil prices rose on Friday on the back of a weaker US dollar, though demand concerns stemming from rising coronavirus cases and escalating US-China tensions kept a cap on prices.
The dollar slid to 22-month lows against a basket of currencies. A weaker dollar usually spurs buying of commodities priced in the greenback, such as oil, because they become cheaper for holders of other currencies...
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