West Texas Intermediate crude trades above $69.00, recovering on a softer US Dollar ahead of a US holiday weekend.
West Texas Intermediate crude oil remains above $69.00, trading at $69.10 in early European trading on Friday. The benchmark recovers ground as a weaker US Dollar provides support, offsetting recent losses.
Prices had dipped earlier in the week but found footing as the USD softened, improving demand prospects for dollar-denominated commodities. Markets are also positioning ahead of a long holiday weekend in the United States, which may limit liquidity.
No immediate market reaction was reported, though the softer USD remains a key driver for crude prices in the near term.