Nonetheless, the downtrend was limited with investors weighing a significant drop in US crude oil stockpiles last week. Oil prices also found support with the ongoing turmoil in the
In economic data from the US, a Thomson Reuters and
Worries over the impact of new and tougher US sanctions on some major Russian banks and energy firms including major oil producer Rosneft on the global economy are also contributing to oil's uptick.
Light Sweet Crude Oil futures for August delivery, the most actively traded contract, dipped
Crude prices for August delivery scaled a high of
On Thursday, crude oil soared 2% after the crash of a
The dollar index, which tracks the US unit against six major currencies, traded at 80.55 on Friday, up from its previous close of 80.53 late Thursday in North American trade. The dollar scaled a high of 80.69 intraday and a low of 80.48.
The euro traded lower against the dollar at
In economic news from the US, a report from
Meanwhile, the Conference Board said that its leading economic index rose 0.3% in June, following an upwardly revised 0.7% increase in May. Economists had been expecting the index to climb by 0.5%, matching the increase originally reported for the previous month.
Meanwhile, the euro area current account surplus declined in May as income and surplus on visible trade decreased from April, the
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