Singapore, Oil prices continued to rise Tuesday, recovering somewhat from last week’s losses, since Monday’s closing.
Brent crude futures were up 23 cents, or 0.28%, at $83.56 per barrel, while US West Texas Intermediate (WTI) crude futures rose 24 cents, or 0.31%, to $78.72 a barrel.
Both contracts had posted the steepest weekly losses in three months as the market focused on weak US jobs data and the possible timing of a Federal Reserve interest rate cut.
Meanwhile, a stronger dollar capped gains in oil futures as it makes crude more expensive for traders holding other currencies.
The dollar index, which measures the greenback against six major peers, rose to 105.18.
Source: Qatar News Agency
