Oil prices rose a dollar a barrel on Tuesday, April 23, as the US dollar index fell to its lowest in over a week and as oil investors shifted focus away from the ongoing geopolitical issues in the Middle East to the state of global economies. The US dollar index weakened after latest S&P Global data showed US business activity cooled in April to a four-month low on a weaker demand.
Brent crude futures rose $1.29, or 1.5 per cent, to $88.29 a barrel. US West Texas Intermediate crude futures rose $1.32, or 1.6%, to $83.22 a barrel., according to news agency Reuters. Coming to domestic prices, crude oil futures rose 1.35 per cent to ₹6,926 per barrel on the multi commodity futures (MCX).
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