Oil strengthens as dollar slips to four-day low | Reuters:
Oil prices rose on Friday as a weakening dollar and lower expected August crude exports from Saudi Arabia supported the market, offsetting concerns about U.S.-China trade tensions and supply increases.
U.S. crude strengthened late in the session as the U.S. dollar index slipped to a four-day low, on reports that U.S. President Donald Trump worries that the Federal Reserve will raise rates twice this year.
“The dollar was a one-way ticket for the last couple of weeks and basically reversed directions, giving us some strong support,” said Phil Flynn, analyst at Price Futures Group.
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