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Crude prices rise as U.S. dollar drops

Xinhua, April 20, 2016 Adjust font size:

Oil prices gained Tuesday as the U.S. dollar depreciated against other currencies. A weaker greenback made the dollar-priced crude less expensive and more attractive for buyers holding other currencies.

The West Texas Intermediate for May delivery moved up 1.3 U.S. dollars to settle at 41.08 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery increased 1.12 dollars to close at 44.03 dollars a barrel on the London ICE Futures Exchange. Endit