2 May 2024
Pricewatch – Oil prices bucked by falling US dollar, rig count and storage
Publication date: 03 July 2017
Gas Strategies Group
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EC4A 4AD
ISSN: 0964-8496
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Crude oil prices saw their first sizeable rally in a month last week as traders scrambled to adjust the curve from three closely-watched factors in the US energy and financial markets: a weakening dollar, a lower oil rig count and falling storage levels.
US West Texas Intermediate jumped the most, closing at just over USD 46/barrel on Friday, a 7% gain compared to a week earlier...