Oil Extends Rebound on Weak Dollar

GMT 15:27 2016 Monday ,20 June

Arab Today, arab today Oil Extends Rebound on Weak Dollar

Tokyo - QNA

Oil prices extended gains in Asia Monday thanks to a weaker US dollar and easing fears of Britain's exit from the European Union. 
The dollar fell for the fourth day in a row on Monday, trading lower against most major currencies, making dollar-priced oil cheaper for those using other currencies. 
At about 0710 GMT, US benchmark West Texas Intermediate for July delivery was up 53 cents, or 1.10 percent at $48.41 a barrel. 
International benchmark North Sea Brent for August delivery was up 58 cents, or 1.18 percent, at $49.75 a barrel.

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