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Oil prices rise on US stimulus hopes, weaker US dollar
Aug. 11, 2020
Source: Reuters

Oil prices rise on US stimulus hopes, weaker US dollar

Crude oil gained more ground on Tuesday, with prices underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen. Brent crude added 0.5%, to $45.21 a barrel, U.S. WTI crude rose 0.8%, to $42.26 a barrel. Prices found support after U.S. President Donald Trump tweeted that top congressional Democrats wanted to meet with him on coronavirus-related economic relief. A weaker U.S. dollar also helped support higher oil prices.

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