Oil prices rose today as traders weighed the support from anticipated summer demand and geopolitical tensions, which offset the impact of a stronger dollar.
Brent crude futures increased by 15 cents, or 0.2 percent, to USD 85.39 a barrel, while US West Texas Intermediate (WTI) crude futures rose by 13 cents, or 0.2 percent, to USD 80.86 a barrel.
Both benchmarks saw approximately a 3 percent rise last week, marking their second consecutive weekly gains.
However, the strengthening dollar makes oil more expensive for holders of other currencies, potentially dampening demand.
Earlier in the Asian trading session today, Brent crude futures fell by 40 cents, or 0.5 percent, to USD 84.84 a barrel, and WTI futures decreased by 39 cents, or 0.5 percent, to USD 80.34 a barrel, marking the second consecutive session of decline.
Source: Qatar News Agency
