- Analytics
- News and Tools
- Market News
- Oil rose as the dollar weakened
Oil rose as the dollar weakened
Oil rose as the dollar weakened after Federal Reserve Chairman Ben S. Bernanke said that the jobs market is far from healthy. The dollar fell to the lowest level against the euro since Dec. 12 after Bernanke said the U.S. has a long way to go before the jobs market operates “normally,” in testimony prepared for the Senate Budget Committee.
West Texas Intermediate crude gained at a faster pace than North Sea Brent in London, reducing the European benchmark’s premium over New York oil for the first time in nine days. The dollar fell on Bernanke’s comments and signs that Greece is near a debt agreement.
Oil fell as much as 1.1 percent earlier as U.S. crude inventories climbed to the highest level in more than four months in a survey before an Energy Department report tomorrow.
Oil for March delivery rose to $99.13 a barrel on the New York Mercantile Exchange after falling to $95.84. Prices have slipped 23 cents this year.
Brent oil for March settlement gained 73 cents, or 0.6 percent, to $116.66 a barrel on the London-based ICE Futures Europe exchange.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
