Oil News

Crude Oil rise as the Dollar weakens and demand surges

Crude Oil rise as the Dollar weakens and demand surges

Crude Oil is trading at $71.30 as of 9:26am, London Time. Crude’s Pool-Position is 45% Long, meaning that most Finotec clients are Selling the commodity.

Oil prices rallied above $71.50 a barrel on Wednesday, extending the previous session’s dollar-driven 4.5 percent rally as investors waited for an OPEC meeting to conclude and fresh U.S. inventory data. With OPEC widely expected to keep output targets unchanged, the focus remained on the dollar, which shed more than 1 percent on Tuesday. Crude Oil is trading at $71.30 as of 9:26am, London Time. Crude’s Pool-Position is 45% Long, meaning that most Finotec clients are Selling the commodity.