Oil rebounded on a weaker US dollar and a better demand outlook
Oil rebounded on a weaker US dollar and a better demand outlook
International benchmarks for crude oil settled higher on Thursday, 19 May 2022 following two consecutive sessions of losses as the US dollar weakened slightly while traders expect the easing lockdown in China would revive demand here.
Brent jumped $2.93 or 2.7% to settle at $112.04/barrel for July delivery
WTI gained $2.62 or 2.4% to close at $112.21/barrel.