In the absence of any price shocks

The market doesn’t believe OPEC has the ability to achieve an agreement freezing supply," Barratt added.S.S. dollar index slipped against a basket of currencies on Thursday.6 per cent, in the previous session.8 per cent, at the previous close.That came after U. dollar after falling around 3 per cent or more in the previous session following a surprisingly large build in U.S.33 lower, or 2.5 million barrels, while gasoline inventories fell by 691,000 barrels, about half the forecast drawdown. A weaker dollar makes greenback-denominated commodities including oil cheaper for holders of other currencies. That compared with analyst expectations of a 921,000-barrel increase.Speculation the Organization of the Petroleum Exporting Countries and other oil producers might agree to curb output at talks in Algeria later this month helped fuel an 11-percent rise in crude prices in August, the best monthly return since April. crude inventories rose 2. The direction of oil prices is governed by supply and the strength of the dollar," said Jonathan Barratt, chief investment officer at Sydney’s Ayers Alliance. crude futures had climbed 12 cents to $44. Brent crude futures climbed 10 cents to $46.99 a barrel after settling $1. non-farm payroll data on Friday to give the market direction, ANZ Bank said in a note.33 lower, or 2."The market is very complacent on whether OPEC can come up with a supply freeze deal.Brent crude futures climbed 10 cents to $46."The weaker dollar is providing support for oil prices today.S.65, or 3.221 billion barrels in the week to https://www.kn-rubberproducts.com August 26, data from the Department of Energy’s Energy Information Administration showed on Wednesday.The U. "In the absence of any price shocks, oil prices remain rangebound - as soon as oil gets down to the lower end of $40 a barrel prices find support. crude and distillate stocks last week.Distillate stocks, which include diesel and heating oil, unexpectedly rose by 1.S. When oil gets down to $40-$42 investors buy, when it gets to $48-$50 they sell again", Barratt said.82 a barrel by 2025 EST, after falling $1.S.Investors are also waiting for U. Singapore: Oil prices rose in early Asian trade on Thursday, rebounding on a weaker U.8 per cent, at the previous close.