News Formal

Oil climbs 3rd day on subdued dollar, US crude stocks' drop

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 66%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

SINGAPORE :Oil prices were little changed on Wednesday amid subdued movements in the dollar, and as investors waited for more inventory data for more clues on demand trends.Brent crude futures rose by one cent to $83.70 a barrel at 0405 GMT, after gaining 3.3 per cent in the previous session. U.S. West

SINGAPORE :Oil prices were little changed on Wednesday amid subdued movements in the dollar, and as investors waited for more inventory data for more clues on demand trends.

Oil benchmarks are expected to retain support after Federal Reserve Chair Jerome Powell sounded less hawkish on interest rates than markets had expected, while the latest data showed U.S. crude inventories fell despite earlier expectations of a climb. The dollar index was down slightly on Wednesday, extending losses after Powell's comments on Tuesday, making oil cheaper for those holding other currencies.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil climbs 3rd day on subdued dollar, US crude stocks' dropMELBOURNE : Oil prices rose early on Wednesday, extending gains from the previous two days, as the dollar fell after Federal Reserve Chair Jerome Powell sounded less hawkish on interest rates than markets had expected and as U.S. crude stocks surprisingly fell.Brent crude futures inched up by 11 cents, or
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »