Oil Prices Rise

On Thursday, oil prices increased following a sharp decline in the dollar after the U.S. inflation data, reports Interfax.ru.

At 20:02 Yerevan time, Brent crude January futures on the London ICE Futures exchange rose by $1.01 (1.09%) to reach $93.66 per barrel.

Meanwhile, the December futures for WTI on the New York Mercantile Exchange (NYMEX) increased by $0.82 (0.96%) to $86.65 per barrel.

The ICE index, which reflects the dollar's performance against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling, and Swedish krona), plunged by 2% to 108.3 points.

The weakening of the dollar is favorable for commodity goods, including oil.