Oil Prices Rise on US Equities Strength, Weak Dollar

摘要

Oil prices ended nearly 1% higher on Monday as a softer dollar and stronger US equity markets helped crude futures rebound from an early drop pressured by worries about increased drilling activity for oil in the US. Forecasts that US shale oil production could fall for an 11th straight month in October also supported oil prices, although gains were capped by expectations that US stockpiles may have built again last week after a sharp drawdown the previous week.