Oil prices jumped 3% early on Monday, snapping the longest losing streak since 2019 of seven consecutive settlements in the red, as investor risk appetite increased and the U.S. dollar softened. As of 8:04 a.m. EDT on Monday, WTI Crude had jumped by 3.19% at $64.10 and the prompt price of Brent Crude traded up 3.
24% at $67.27. A weaker U.S. dollar and China bringing local COVID cases back to zero after a month of drastic restrictions on movement encouraged crude oil buying in the market, which had settled lower on Friday for the seventh day in…Oil Rebounds 3% After Seven-Day Losing Streak
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