Overview of the oil market: the dollar and the hurricane supported the "black gold"

Decrease in the dollar against the euro led to increase in oil prices. The euro rose to $1.4037. At NYMEX December WTI crude oil futures rose $0.75 (0.92%) to $82.44 a barrel. Brent oil rose $0.56 (0.68%) to $83.52 a barrel.

 

Of the "non-currency" factors we should mention Tropical Storm Richard, which hit Belize. This event also pushed up "black gold" prices.

 

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