Crude oil market revived on weaker US dollars

International benchmarks for crude oil settled nearly $2/barrel higher on Monday, 25 July 2022 on the back of the weaker US dollar and the early gains in the global equity market. However, investors remained concerned that higher interest rates from the FED would erode consumption moving forward. 

Brent gained $1.95 or 1.9% to settle at $105.15/barrel.

WTI added $2 or 2.1% to close at $96.70/barrel.