Oil Extends Rebound on Weak Dollar
Oil
Tokyo - QNA
Oil prices extended gains in Asia Monday thanks to a weaker US dollar and easing fears of Britain's exit from the European Union.
The dollar fell for the fourth day in a row on Monday, trading lower against most major currencies, making dollar-priced oil cheaper for those using other currencies.
At about 0710 GMT, US benchmark West Texas Intermediate for July delivery was up 53 cents, or 1.10 percent at $48.41 a barrel.
International benchmark North Sea Brent for August delivery was up 58 cents, or 1.18 percent, at $49.75 a barrel.
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