The Traderszone Network

Published in TZ Latest News 28 May, 2015 by The TZ Newswire Staff

Oil rises as dollar dips, eyes on U.S. stocks data

Oil prices recovered on Thursday after a two-day slide as the dollar weakened, making fuel less expensive for holders of other currencies. The dollar has risen more than 4 percent against a basket of currencies (.DXY) over the last 10 days, helping accelerate a fall in oil prices from a five-month high early in May. “Much depends on the U.S. dollar,” said Carsten Fritsch, senior oil and commodities analyst at Commerzbank in Frankfurt.