Oil rises on hopes for economic recovery
Stronger dollar and fears of Saudi production disruption cap prices
09 March 2021 - 07:24
Singapore — Oil prices rose on Tuesday on expectations of a recovery in the global economy after the US Senate approved a $1.9-trillion stimulus bill and on a likely drawdown in crude oil inventories in the US, the world’s biggest fuel consumer.
But a stronger dollar and receding fears of a supply disruption from Saudi Arabia, the biggest oil exporter, after an attack on its export facilities capped price gains...
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