Crude oil recovered amid rising tensions in Libya

Crude oil recovered amid rising tensions in Libya 

Nov 10 2014


The U.S.  crude oil futures rose on Monday in the Asian markets and continue to appreciate for the second day due to the falling of the U.S. dollar. Brent price rose above $ 84 per barrel, supported by the trade balance data in China's which is the second-largest oil consumer in the world.

While, the dollar index fell for the second consecutive day and has ended its wave of gains against the other currencies.

 This encouraged investors to invest in the commodities and precious metals markets.
 On the other hand, investors are monitoring the oil markets and political turmoil in Libya, the largest oil reserves in Africa, where some Libyan oil fields have been closed also the disruption of oil supplies since 2 days ago.

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