Low dollar makes price of oil barrel rise

The oil closed high this Friday, stimulated by the weak dollar and by signs that the offer is under control. The barrel of "light sweet Crude" (WTI) for delivery in April advanced 36 cents, at 63.91 dollars, in New York

Mercantile Exchange (Nymex).

The barrel of "light sweet Crude" (WTI) for delivery in April advanced 36 cents, at 63.91 dollars, in the New York Mercantile Exchange (Nymex). In London, the Brent barrel of the North Sea also for delivery in April had high of 19 cents and closed to 67.50 dollars.

Prices fell at the beginning of the session, but the dollar lost its strength and this benefited oil, explained Bart Melek of TD Securities. This allowed prices to follow the trend to high initiated last week, when the United States surprised analysts and reported a drop in reserves, "said Melek, for whom the fall is a symptom of demand fastness. Source: Uol Economics

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