Crude Prices Get Support From A Weaker Dollar

U.S. West Texas Intermediate crude oil futures are edging higher on Friday, putting it in a position to post its fourth straight weekly gain. The catalysts behind the buying strength are supply constraints and a weaker U.S. Dollar. Meanwhile, traders appear to be unfazed by reports that China is set to release crude reserves around the Lunar New Year.

The feeling is that there is enough growing global demand to absorb any increase in supply. US Dollar Headed for Large Weekly Decline The surprise story this week is the steep drop in the U.S. Dollar…