Key Currency Exchange Rates for Friday, 8/25/23

Futures in New York were little changed Friday and poised for a 3.7 percent weekly gain after the greenback slumped to a three-year low. A rebound in stocks from the U.S. to Asia is also boosting confidence the markets are stabilizing. West Texas Intermediate for March delivery added 7 cents to $61.41 on the New York Mercantile Exchange at 6:13 a.m. local time. Total volume traded was about 31 percent above the 100-day average. Brent for April settlement climbed 19 cents to trade at $64.52 on the London-based ICE Futures Europe exchange. The global benchmark traded at a $3.22 premium to WTI for the same month.

Oil started the week off with mixed readings after last week’s nearly 5% rise as investor sentiment in black gold continued to be buoyed by hopes of extension to the OPEC-led deal to curb production. U.S. crude showed cautious trade around the unchanged mark Monday with the benchmark unable to hold the $54 mark, though the London barrel managed to extend gains. The U.S. West Texas Intermediate crude December contract slipped 2 cents, or 0.04%, to $53.88 a barrel by 5:12AM ET (9:12GMT). Click Read More below for additional information.

National Average Price for Regular – Current: $2.561; Month Ago: $2.485; Year Ago: $2.196. National Average Price for Diesel – Current: $2.818; Month Ago: $2.728; Year Ago: $2.413.