Crude oil recovered amid the decline of the Dollar
May 12th 2015
Crude Oil prices edged higher to trade near $60 per barrel,
extending its previous session gains. The oil was supported by the decline of the
U.S Dollar against a basket of major currencies on concerns that the Fed will
not hike its interest rates as soon as the next month. In addition to the new
signs which confirm the improving global demand for oil during the recent
period. The oil markets are waiting for the release of the U.S supply data from
American Petroleum Institute and the OPEC monthly report due today later. And any
negative data could push the oil to retreat again.
