Oil prices rose during trading on Tuesday, despite the dollar's rise against most major currencies, and crude extended its gains ahead of the release of US inventory data.
Later today, the American Petroleum Institute will announce preliminary data on oil inventories in the United States, while the Energy Information Administration will announce its official data tomorrow, Wednesday.
On the other hand, the dollar index – against a basket of major currencies – rose by 0.4% at 17:36 GMT to 92.6 points, and recorded the highest level at 92.7 points and the lowest level at 92.1 points.
In terms of trading, US “NYMEX” crude futures for August delivery rose by 1.5% to $75.2 a barrel, and recorded the highest price at $75.5 and the lowest price at $73.6.
Brent crude futures for August delivery rose 1.7% to $76.4 a barrel, with the highest price at $76.6 and the lowest at $74.9.
Later today, the American Petroleum Institute will announce preliminary data on oil inventories in the United States, while the Energy Information Administration will announce its official data tomorrow, Wednesday.
On the other hand, the dollar index – against a basket of major currencies – rose by 0.4% at 17:36 GMT to 92.6 points, and recorded the highest level at 92.7 points and the lowest level at 92.1 points.
In terms of trading, US “NYMEX” crude futures for August delivery rose by 1.5% to $75.2 a barrel, and recorded the highest price at $75.5 and the lowest price at $73.6.
Brent crude futures for August delivery rose 1.7% to $76.4 a barrel, with the highest price at $76.6 and the lowest at $74.9.
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