Oil Prices Push Higher As Fed Stimulus Supports
From Pakistan Today
Brent crude rose a seventh straight session and Brent and U.S. crude futures posted weekly gains as the dollar fell broadly, dropping to a four-month low versus the euro, after the Fed’s Thursday announcement of a third bond-buying program.
A weaker U.S. currency is usually supportive to dollar-denominated commodities such as oil and industrial feedstock copper, which jumped to a 4-1/2 month peak.
