WTI crude oil rises 3% thanks to dollar depreciation

WTI crude oil futures for September rose $1.97, or 3.11%, to $64.11 a barrel.

The weakening of the dollar caused crude oil prices to rise after falling 8.9% last week.

The dollar movement index against the six major currencies in a basket of currencies fell 0.24% today, driving the crude oil market. This is because crude oil contracts are settled in dollars. For investors holding other currencies, this results in attractive prices.

Investors continue to watch the report on U.S. crude oil inventories. The information will be released on Wednesday by the U.S. Energy Information Administration (EIA).

The Spot Market is Open

Tuesday.24 Aug-2021

Metals

Updated at
USD

Bid/Ask
Ounce

Change


Low/High
Gold
06.00
1,805.30
1,806.30
-0.20
-0.01%
1,804.90
1,807.10
Silver
06.00
23.62
23.72
-0.00
-0.02%
23.61
23.74
Platinum
06.00
1,016.00
1,026.00
+2.00
0.20%
1,014.00
1,026.00
Palladium
06.00
2,336.00
2,486.00
+6.00
0.26%
2,326.00
2,490.00
Rhodium
05.00
15,800.00
17,800.00
0.00
0.00%
15,800.00
17,800.00
Energy

Updated at


Price


Change


%Change
Crude Oil
06.00

65.60

-0.04

-0.06%

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