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Oil dips but heads for weekly gain despite U.S. downturn fears
Oil dips but heads for weekly gain despite U.S. downturn fears
The lower rate hike expectations drove the dollar down, which in turn supported oil prices. A weaker greenback makes oil cheaper for holders of other currencies and often sparks buying. The market has also been buoyed by Saudi Arabia's move to increase its official crude sales prices to Asia, seen as signalling a demand recovery in China.
The lower rate hike expectations drove the dollar down, which in turn supported oil prices. A weaker greenback makes oil cheaper for holders of other currencies and often sparks buying. The market has also been buoyed by Saudi Arabia's move to increase its official crude sales prices to Asia, seen as signalling a demand recovery in China.
The lower rate hike expectations drove the dollar down, which in turn supported oil prices. A weaker greenback makes oil cheaper for holders of other currencies and often sparks buying. The market has also been buoyed by Saudi Arabia's move to increase its official crude sales prices to Asia, seen as signalling a demand recovery in China. 
