According to trading data, oil on Friday morning continues to rise in price with the support of a weak dollar. During this trading week, the prices of “black gold” showed a record growth of 9-9.5% since October.
The price of November futures for Brent crude oil is growing by 1.28%, to 71.08 dollars per barrel, October – by 1.41%, to 72.07 dollars. October WTI futures are rising by 1.39% to $ 68.36 per barrel.
This week, the strongest increase in oil prices since October last year was recorded: Brent rose by 8.9%, and WTI – by 9.55%.
Oil is also supported by a weak dollar, whose index (the dollar exchange rate against a basket of currencies of six countries – the main trading partners of the United States) decreased by 0.07%, to 93 points.
In addition, investors are waiting for the publication of data from the oilfield services company Baker Hughes on the number of operating oil drilling rigs in the United States for the week ended August 27. Over the previous week, the indicator increased by eight units, to 405 units.