Oil surges on weakening dollar

Global oil prices grew on Monday morning on the weakening of the US dollar.

Brent's May futures rose 0.42% to $83.13 per barrel and the April futures for WTI rose 0.46% to $77.03.

The dollar index declined by 0.68% to 103.87 points. The dollar depreciation maintains demand for raw materials, including oil, making them more affordable when buying in another currency.