Oil prices lifted for 10th day as dollar softens

Crude prices gained modestly Friday, helped by a weaker dollar, putting the U.S. benchmark on track for a 10-day winning streak that would be its longest since December 2016.

A move higher in the last few minutes of trading on Thursday allowed oil futures to notch a ninth straight session of gains, the longest winning streak in about nine years for the U.S. benchmark and in more than 11 years for global crude prices.

The recent advance for the energy complex has been powered by optimism over U.S.-China trade talks, as well as a December output drop from major producers and a more-recent decline in U.S. crude inventories. OPEC oil production fell by 630,000 barrels a day to a six-month low of 32.43 million barrels in December, according to an S&P Global Platts survey released earlier this week.
more detail at source: https://www.marketwatch.com/story/oil-prices-lifted-for-10th-day-as-dollar-softens-2019-01-11

Back To Top
Close search