U.S. crude oil futures climbed more than $1 on Tuesday as the dollar index weake...
FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Picture taken November 22, 2019. REUTERS/Angus Mordant/File Photo
MELBOURNE - U.S. crude oil futures CLc1 climbed more than $1 on Tuesday as the dollar index weakened and hopes grew of a detente in the price war between producers Saudi Arabia and Russia.“However volumes are terrible, they’re very low, so this is not a high confidence move,” CMC Markets and Stockbroking chief market strategist Michael McCarthy said.
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