AAA Daily Fuel Gauge Report for Friday, 8/12/22

American Dollar to Canadian Dollar = 0.758945; American Dollar to Chinese Yuan = 0.149219; American Dollar to Euro = 1.179670; American Dollar to Japanese Yen = 0.009440; American Dollar to Mexican Peso = 0.047040.

“There’s been some constructive developments coming out of OPEC,” Tamar Essner, an energy analyst at Nasdaq Inc. in New York, said by telephone. “The data out of OPEC has been bearish.” Oil has rebounded on growing signs that the market is coming back into balance, with futures climbing above the 200-day moving average last week for the first time since May. Members of the Organization of Petroleum Exporting Countries such as Saudi Arabia and Kuwait promised to reduce crude exports. U.S. crude stockpiles have been on a steady decline and are estimated to have dropped further last week. Click Read More below for more of the story.

American Dollar to Canadian Dollar = 0.728561; American Dollar to Chinese Yuan = 0.140517; American Dollar to Euro = 0.980024; American Dollar to Japanese Yen = 0.006899; American Dollar to Mexican Peso = 0.049868.