19 September 2022

Oil Prices Rise on Weak Dollar

International and Arabic
  • Oil

Singapore, September 19 (QNA) - Oil prices climbed during early Asian trade on Monday as a weaker dollar and supply concerns ahead of the European Union embargo on Russian oil in December offset fears of a global recession that could dampen fuel demand.
Brent crude futures rose $1.15, or 1.3 percent, to $92.50 a barrel after settling up 0.5 percent on Friday.
US West Texas Intermediate crude was at $86.16 a barrel, up $1.05, or 1.2 percent.
Both contracts, which slid more than 1 percent last week on concerns that another interest rate hike by the Federal Reserves could slow global growth. (QNA)

Keywords

Economy, International
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