Oil Set for Weekly Gain as Dollar Weakens, Markets Stabilize

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. That’s erased almost half of last week’s losses, when a global equity rout spread to other risk assets. 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.
more at:  https://www.bloomberg.com/news/articles/2018-02-16/oil-set-for-first-weekly-gain-this-month-as-u-s-dollar-weakens

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