Connect with us

Money Market

Oil prices rise to $57.01 on weaker dollar, but U.S. output drags

Published

on

Global Market – Oil rises to $56, shares up in Asia on relief at N.Korea inaction

Oil prices rose on Monday with traders shifting money into crude futures as the dollar weakened and on concerns that new U.S. sanctions against Iran could be extended to affect crude supplies.

But markets were held back by more signs of growing U.S. production and by worries that import demand in China could slow.

International Brent crude futures were trading at 57.01 dollars per barrel at 0620 GMT, up 20 cents from their last close.

U.S West Texas Intermediate (WTI) futures were up 19 cents at 54.02 dollars a barrel.

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

NIGERIA DECIDES

NIGERIA DECIDES

Shell Digital Plan RESPONSIVE600x750
Shell Digital Plan RESPONSIVE600x750
GTB
JoinOurWhatsAppChannel