WTI and Brent Rise

WTI and Brent Crude were both up around 0.85% at 13:20 EST, following the trend of many dollar-denominated commodities subsequent to the release of minutes from the Feds December meeting.

Brent crude oil, the global benchmark continued a consecutive day of gains, heading up from yesterday’s upward close of $53.70/barrel, standing currently at 0.85% or $57.08/barrel, as a weakened dollar due to the release of the minutes from the Feds December meeting, assisted in pushing many dollar-denominated commodities higher, as it became less expensive for holders of foreign currencies.

WTI crude also continued gains from yesterday, finishing the trading session on Wednesday at $56.47/barrel, marking a recovery from the considerable drop experienced by both WTI and Brent on January 3, as investors, traders and analysts awaited the release of the Fed minutes. Currently standing at $57.04/barrel WTI has been subject similar gains to its counterpart in Thursday’s trading session so far.

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