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Weak dollar to fuel oil price

13 April 2012

TRADERS say that the dollar's weakness will prompt oil cartel Opec to keep US crude prices above $30 a barrel in the opening months of 2004.

'US prices will stay above $30 for some months to come based on Opec wanting more for its crude now that the dollar has weakened,' one strategist said.

Today US light crude shed three cents to $32.49, while Brent crude added 33 cents at $29.65.

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Energy
Fossil Fuel
OPEC