Daily News | Oil influenced by the US dollar

It’s already the middle of the week, which means there are plenty of new pieces of information from the business world. As usual, we went through them thoroughly and will share our findings with you, so that you can have the best possible chances for profit. Today, the focus is on the euro, since the currency rose from $1.0600 to $1.0693. This came about as German Finance Minister Wolfgang Schaeuble was preparing to continue German aid to Greece, without the involvement of the IMF. Talks between Athens and its foreign lenders have been slow for months due to differences on labor and energy reforms, as well as fiscal targets and debt relief measures. Germany would like the IMF to participate, but Berlin is not in favor of giving significant debt relief to Athens. We will continue to monitor this story, but let us now look at the US dollar. In the same period, the currency dropped from €0.9433 to €0.9351. Because of this, oil prices are expected to rise today, although gains were limited by the fact that US producers would likely boost output. Indeed, Brent crude features, the international benchmark for oil prices, rose 23 cents to $55.70 a barrel. We will continue to monitor this situation, so continue to follow us daily!

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Author: Max Rothstein

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