Brent Crude Oil Price Rises To $50 On Weak Dollar Montreal [gHRhCl561g9]
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Brent crude oil prices rose on Monday thanks to a cheaper dollar. This, despite limited supplies after attacks on Nigerian oil infrastructure. Brent crude futures rose as high as 50 dollars and 10 cents a barrel, while U.S. crude futures were up 0.8% to 49 dollars. A weaker nick pasqual dollar supports inheritance tax fuel demand in the rest of the world as it makes dollar-traded oil imports cheaper. Traders said prices were also propped up by attacks on oil infrastructure in Nigeria, which has already pulled the country's output to over 20-year lows.The Muslim holy month of Ramadan is also seen as supportive of prices getafe vs mallorca as driving demand picks up in most Muslim dominated countries.