Fresh 3-Year High for Oil Futures as Dollar Falls

By FeaturesDow Jones Newswires

Oil futures rose added to their recent three-year highs in Asian trading Thursday, continuing to benefit from the dollar falling to levels last seen in 2014.

--March light, sweet crude on the New York Mercantile Exchange was recently up 1% at $66.24 a barrel in the Globex trading session. March Brent rose 0.7% to $70.99.

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--The past day's fresh gains have come despite further growth last week in average daily U.S. oil production. For now, the recent output increases are being offset by factors beyond the dollar like solid demand, said Geoffrey Craig at S&P Global Platts. The Wall Street Journal Dollar Index was recently down 0.3%.

Write to Biman Mukherji at biman.mukherji@wsj.com

(END) Dow Jones Newswires

January 24, 2018 23:47 ET (04:47 GMT)

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