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Oil prices rise above $ 46
Energy
- 31 August, 2020
- 07:15
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World oil prices have gone up on Monday morning amid a weakening US currency.
As of 9.10 am (Baku time), the price of November futures for North Sea Brent crude oil mixture grew by 0.57% - up to $ 46.07 / bbl, October futures for WTI - by 0.35%, to $ 43.12 / bbl.
The dollar against the yen fell 1% on Friday after news from Japan. Japanese Prime Minister Shinzo Abe on Friday announced his resignation for health reasons. On Monday, the US dollar is somewhat strengthening against the yen as part of the correction, but the dollar index against world currencies decreases.
A weak dollar supports the cost of commodities, including oil, by making it cheaper for investors with a different currency.
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