Oil prices keep rising on weaker U.S. dollar

2017-05-19 21:16:00 GMT2017-05-20 05:16:00(Beijing Time) Xinhua English

NEW YORK, May 19 (Xinhua) -- Oil prices extended gains Friday,with U.S. oil topping 50 dollars a barrel for the first time inmore than three weeks, as a weaker greenback made thedollar-denominated oil more attractive for holders of othercurrencies.

The U.S. dollar tumbled against other major peers on Friday asthe country's political uncertainties continued to weigh on themarket.

The dollar index, which measures the greenback against six majorpeers, was down 0.79 percent at 97.105 in late trading Friday.

Meanwhile, the number of rigs operating in U.S. fields increasedby 8 to 720 this week, marking a eighteenth straight weekly gains,oilfield service company Baker Hughes reported Friday.

The West Texas Intermediate for June delivery rose 0.98 U.S.dollars to settle at 50.33 dollars a barrel on the New YorkMercantile Exchange, while Brent crude for July delivery added 1.10dollars to close at 53.61 dollars a barrel on the London ICEFutures Exchange. Enditem

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