Oil prices rise due to the weak dollar

The depreciation of dollar exchange rate becomes the cause of rising oil prices

In brief: Oil slightly rises in price on a weakening dollar. Oil prices rise slowly, while the dollar loses its entrenched position in recent weeks.

Dollar exchange rate decreases. Stock trades in the U.S. will begin tomorrow. Today the black gold becomes more expensive. Oil prices rise to all working exchanges. Expensive even Russian oil. Oil prices in Russia grew by 0.7 dollars per barrel.

Oil price at trading on Monday, slightly growing at a weaker dollar. The cost of the July oil futures in electronic trading in New York rose to 0,42, or 0,6% – up to 74.39 dollar per barrel, as the dollar becomes weaker. Spot price of Brent oil with delivery in July in London rose 0.36, or 0.5% – to $73.62. Euro at trading on Monday, rising gradually against the dollar. At the moment of time the course of the European currency reached 1.2299 dollars against 1.2270 per euro on the basis of trading on Friday. At the end of the previous trading session, the cost of July futures for U.S. light crude oil Light Sweet Crude Oil was 73.97 dollars per barrel, fell to 0.58 units of U.S. currency.

Ukrainian Globalist
2010-05-31 15:24, Economics.

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One comment к “Oil prices rise due to the weak dollar”

  1. oilngasrussia Says:

    The rivals to Russia’s oil reserves is also known fact that there are fluctuation in Oil and Gas prices in Europe even though they have it’s own Oil Reserve. True. In North Sea, but theres nowhere near large enough to cover the current rate of consumption that Europe enjoys. Even though we are (Europe) exploiting greener
    renewable energies but we still need oil right?
    here is the Article i am refering to.
    http://bit.ly/9cNwP9

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