American Dollar to Canadian Dollar = 0.779541; American Dollar to Chinese Yuan = 0.156962; American Dollar to Euro = 1.131004; American Dollar to Japanese Yen = 0.008745; American Dollar to Mexican Peso = 0.048308.
https://www.x-rates.com/table/?from=USD&amount=1.00
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Futures climbed 0.6 percent in New York for a fourth day of gains. Kuwait joined the U.A.E. in promising to pump less oil after Saudi Arabia called on OPEC producers to cut more supply. U.S. crude inventories declined by 7.21 million barrels last week to the lowest level since early January, according to the Energy Information Administration. The market is digesting “very strong draws in inventories across the board,” Adam Wise, who runs a $8 billion oil and natural gas bond and private equity portfolio at John Hancock Financial Services Inc. in Boston, said by telephone. “We’ve also seen comments out of Saudi Arabia supporting prices in the form of export reduction. Sentiment is finally being forced to pay attention to the fundamentals.” Click Read More below for additional details.
The U.S. jobs report topped estimates last week, increasing confidence in the world’s biggest economy, giving a boost to the outlook for energy demand and driving benchmark crude prices up 3.2 percent on Friday. American oil explorers idled four rigs last week after six consecutive increases in drilling, easing fears over surging shale production. Prices were 0.4 percent lower Monday. “Employment is the key driver of oil demand, as more people at work means more commutes and, in consequence, rising road fuel use,” said Norbert Ruecker, head of commodity research at Julius Baer Ltd. in Zurich. Click Read More below for additional information.
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