Off the wire
• Brazilian lower house of Parliament creates impeachment committee over Rousseff's case  • Urgent: Two people tested Ebola positive in Guinea: authorities  • Finland partially sells state-owned defence equipment company to Norway  • 1st LD: Cuba to eliminate 10-pct tax on incoming U.S. dollars  • 1st LD Writethru: U.S. dollar declines after Fed statement  • Chicago soybeans, corn rally amid weaker dollar; wheat lower  • Feature: How to cope with overweight children in Italy  • (Recast) No decision yet on legalizing rhino horn trade: S. African minister  • No decision yet on legalizing rhino horn trade: S. Afrian minister  • EP president warns not to link migrant crisis to Turkey's membership bid  
You are here: 　 Home

1st LD Writethru: Oil prices rally amid weak U.S. dollar

Xinhua, March 18, 2016 Adjust font size:

Oil prices extended the rally Thursday as declining dollar made the dollar-priced crude less expensive and more attractive for buyers holding other currencies.

U.S. dollar decreased against other major currencies on Thursday as the Federal Reserve statement released Wednesday proved dovish.

The declining output from U.S. also buoyed the market. Crude production of the country lost 10,000 to 9.068 million barrels a day last week, according to the weekly report of the Energy Information Administration (EIA) released Wednesday.

U.S. crude stockpiles increased less than expected. Crude supplies last week gained 1.3 million barrels to 523.2 million barrels, 64.7 million barrels more than one year before, according to EIA.

The West Texas Intermediate for April delivery moved up 1.74 U.S. dollars to settle at 40.2 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery increased 1.21 dollars to close at 41.54 dollars a barrel on the London ICE Futures Exchange. Endit