Oil prices rise on weaker dollar, likely drawdown in U.S. stocks

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20 April 2021

Oil prices rose on Tuesday as a weaker U.S. dollar supported commodities and on expectations that crude inventories fell in the United States, the world's biggest oil user, though rising coronavirus cases in Asia capped gains, APA reports quoting Reuters.

Brent crude futures for June delivery rose by 29 cents, or 0.4%, to $67.33 a barrel at 0157 GMT.

U.S. West Texas Intermediate (WTI) crude futures for May delivery, which expire on Tuesday, were up 19 cents, or 0.3%, to $63.57 barrel. The more-active June contract was at $63.71, up 0.4%, or 28 cents.

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