The dollar slid to a seven-week low against a basket of other currencies, providing a price floor for oil and making the fuel cheaper for holders of other currencies
A gas flare burns at an oil refinery in Russia. Picture: BLOOMBERG
Brent crude futures were down 54c, or 0.7%, to $76.15 a barrel at 9:29am GMT, while US West Texas Intermediate crude dropped 62c, or 0.9%, to $70.28. US crude oil stockpiles rose unexpectedly last week to their highest in nearly two years, latest data from the Energy Information Administration showed.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold trades flat as investors await Fed rate directionBullion’s rally takes a pause as the banking sector shows signs of recovery and risk appetite returns
Read more »
Asia tracks Wall St rally as Fed decision replaces bank worriesAsia extended a global equities rally as more pledges of government support soothed worries over the banking sector.
Read more »
JSE firmer as traders await outcome of Fed policy meetingConcern about banking sector turmoil is easing, but market sentiment remains fragile, says Citadel Global director Bianca Botes
Read more »
Rand edges higher ahead of inflation data, Fed rate decision[CURRENCY] At 12:00, the rand traded at R18.56 against the dollar, ahead of the release of local inflation data and highly anticipated interest rate decision by the US Federal Reserve. Moneyweb Currency
Read more »
MARKET WRAP: Rand firms as focus turns to Fed meetingCurrency gains on rising likelihood of higher local rates after Stats SA reports worse-than-expected inflation data for February
Read more »