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Crude oil gained as a weaker dollar encouraged buying

Crude oil gained as a weaker dollar encouraged buying

Crude oil trading range for the day is 3501-3595. Crude oil gained as a weaker dollar encouraged buying but investors remained cautious while the as number of U.S. oil rigs rose for the seventh straight week. Russian Energy Minister Alexander Novak said it was too early to say if the deal to reduce oil production would be extended beyond the end of June. Russias February oil output was unchanged from January at 11.11 million barrels per day (bpd), energy ministry data showed.

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