Oil prices rise amid weakening dollar

Oil prices rose on Friday after yesterday’s meeting of the European Central Bank, during which it was decided to raise the key interest rate for the first time since 2011.

By 09:52 Moscow time, U.S. oil futures for September delivery rose 1.25% to $97.55 a barrel, while Brent oil futures for delivery in the same month rose 1.42% to $105 .33 per barrel.

The rise in oil prices was accompanied by a fall in the dollar on the back of a rise in the euro after yesterday’s meeting of the European Central Bank, during which it was decided to raise the base interest rate for the first time since 2011, and the strengthening of the euro led to a fall in the dollar, which fell from last week’s levels.

Source: RT + Bloomberg