Economics
Crude Rises for First Time in Four Days as Dollar Weakens
This article is for subscribers only.
Crude oil gained for the first time in four days as the dollar weakened and OPEC warned that prices may surge without new investment in production.
The Bloomberg Dollar Spot Index declined from the highest level on record, boosting oil’s investment appeal. Saudi Arabia’s oil minister met with Russian and Norway officials to discuss market stability, according to the official Saudi Press Agency. OPEC Secretary-General Abdalla El-Badri said Monday that oil may jump to $200 a barrel without adequate long-term investment.