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Oil rebounds from 2-month ahead of OPEC report
[Market Watch] Crude-oil prices rebounded from a two-month low on Tuesday, getting a lift from a weaker dollar ahead of the monthly OPEC report.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in August CLQ6, +2.06% rose 78 cents, or 1.8%, to $45.54 a barrel, while September Brent crude LCOU6, +2.42% gained 97 cents, or 2.1%, to $47.21 a barrel.

The gains came as the dollar pulled back against most other major currencies, making oil cheaper for other currency holders. Investors backed out of the greenback and into more risk-sensitive investments, such as oil and equities, on hopes of continued loose monetary policy globally, as well as optimism over a better-than-expected start to the U.S. earnings season.
Posted by: Besoeker 2016-07-12
http://www.rantburg.com/poparticle.php?ID=461440