US Oil Ignores Dollar Strength, Hits Highest Level In 7 Months

The inverse correlation between the US dollar and oil seems to have been ignored in recent days. Although the dollar appreciated by more than 2.7% against a basket of currencies since the beginning of May, U.S. Oil rose by more than 7% in the same period to trade at a premium to Brent and at the highest levels seen since October last year...

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