Oil prices end higher with support from the dollar’s decline


Oil prices closed on Saturday, at an altitude to offset some of the losses incurred in the previous session as the dollar fell, which encouraged investors to buy.
And increased global London Brent crude 72 cents to $ 55.80 a barrel, recouping some losses on Thursday, which exceeded two percent.
US crude West Texas Intermediate futures rose 62 cents to $ 53.23 a barrel.
The dollar index, which tracks the performance of the greenback against a basket of major currencies on Friday, falling from its highest level in seven weeks.

Russian Energy Ministry data showed the stability of the Russian oil production in February at 11.11 million barrels a day, unchanged from January, bringing the Russian reduction remains at 100 thousand barrels per day from the October 2016 level which is equivalent to one-third the size of the cuts pledged by Moscow in the framework of the Organization agreement Petroleum exporting countries (OPEC).

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