Oil prices are edging above last week's six-week lows on Monday on a weaker dollar, although gains were limited by continuing nervousness over the global macroeconomic outlook, said market players.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 74.45/bbl on the ICE platform, up USD 0.19 on Friday's close.
Crude-oil futures declined to a six-week low on Friday, taking cues from a rising dollar and a sell-off in global equities that extended from Asia to the US on deepening concerns about the global recovery.
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Montag, 23.08.2010, 08:18 Uhr
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