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Oil reaches $110 as dollar falls
Oil prices rose to around $110 per barrel amid concerns over tightening supplies due to increasing attacks on ships and oil infrastructure in the Gulf, particularly in the Strait of Hormuz and the Arabian Gulf, where more than 18 attacks occurred over two weeks, affecting oil transportation. Additionally, U.S. oil inventories decreased by 4.9 million barrels, supporting expectations of higher oil prices. In contrast, the dollar declined following falling Treasury bond yields, with its index stabilizing at 101.78 points. Other currencies, such as the Australian dollar, gained, amid mixed performances of major currencies.
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