Oil prices rise on weaker US dollar

Oil prices rose in early trading on Monday on a weaker US dollar, despite signs that China would most probably continue with its zero-Covid policy, which has battered global supply chains.

Brent, the benchmark for two thirds of the world’s oil, was trading 0.89 per cent higher at $92.45 a barrel at 11.19am UAE time.

West Texas Intermediate, the gauge that tracks US crude, was up nearly 1 per cent at $86.37 a barrel.

Echo Energy plc (LON:ECHO) is a full cycle, exploration led, oil and gas focused AIM-listed E&P with an exciting asset base in Latin America.

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