1st LD Writethru: Oil prices rise amid weak dollar
Xinhua, July 22, 2015 Adjust font size:
Oil prices climbed Tuesday as a weaker greenback provided support for the dollar-priced crude.
The U.S. dollar retreated from a three-month high on profit- taking. The dollar index, which measures the greenback against six major currencies, was down 0.71 percent to 97.333 in late trading.
The oil prices rose as a softer greenback made the dollar- priced crude less expensive and more attractive for buyers holding other currencies.
The West Texas Intermediate for August delivery moved up 21 cents to settle at 50.36 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery increased 39 cents to close at 57.04 dollars a barrel on the London ICE Future Exchange. Endite