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Oil futures contract higher as US dollar index falls for the fifth consecutive session
Crude oil futures rallied during the Asian session on Thursday, with Nymex crude hitting a three-week high as Brent crude settled near its seven-week high as the US dollar index fell in the opposite direction.
US crude futures for November delivery rose 0.22% to $ 69.66 a barrel, the highest since August 7, compared to the opening at $ 69.51 a barrel.
Brent crude futures for October delivery rose 0.12% to trade at $ 77.23 per barrel compared to the opening at $ 77.14 a barrel, while the US dollar index fell 0.01% to 94.59 compared to the opening at 94.60.
The markets are currently looking for the US economy, the world's largest economy, to release the Jobless Claims reading for the week ending August 25, which could reflect a rise of 4K to 214K, and the ongoing Jobless Claims Index for the week ending 18th of this month Up 3 thousand to 1,730 thousand applications.
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