By February 12, 2018 0 Comments Read More →

Oil gains 2 percent as global markets stabilise, dollar dips

Oil rose nearly 2 percent on Monday, recovering some of last week’s steep losses as global equities steadied after their largest one-week slide in two years.

Brent crude futures (LCOc1) gained 82 cents to $63.61 a barrel by 1302 GMT, up nearly 2 percent, while U.S. West Texas Intermediate futures (CLc1) rose by $1 to $60.20.

A weaker dollar helped to boost oil by making dollar-priced crude cheaper for holders of other currencies…

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