Oil futures jumped more than $1 a barrel on Thursday amid a weaker dollar, recov...
FILE PHOTO: A pump jack operates in the Permian Basin oil and natural gas production area near Odessa, Texas, U.S., February 10, 2019. Picture taken February 10, 2019. REUTERS/Nick Oxford
Brent crude had rebounded to $57.52 a barrel, up $1.29, or 2.29%, from its last close by 0032 GMT, while U.S. crude futures jumped $1.30, or 2.54%, to $52.39 a barrel. “The U.S. dollar is losing some steam and easing some of the pressure on oil prices,” said Alfonso Esparza, a Toronto-based senior market analyst at Oanda.
Bloomberg in a report on Wednesday cited a Saudi official saying that the world’s top exporter is in talks with other producers to take action to halt the oil price slide.
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