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Oil edges higher on weaker dollar, but demand threats from US China tension

Brent crude rose by 6 cents, or 0.1 per cent, to $43.37 a barrel by 0634 GMT, and US West Texas Intermediate (WTI) crude rose by 1 cent to $41.08

saudi aramco, Oil, crude, petrol
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In China, congestion at east coast oil ports is adding to costs for shippers and importers even as fuel demand stalls.

Reuters Singapore
Oil prices edged higher on Friday on the back of a weaker US dollar, although demand concerns stemming from rising coronavirus cases and escalating US-China tensions kept a cap on prices.

The dollar slid to 22-month lows against a basket of currencies. A weaker dollar usually ups buying of commodities priced in the greenback, like oil, because they become cheaper for holders of other currencies.

Brent crude rose by 6 cents, or 0.1 per cent, to $43.37 a barrel by 0634 GMT, and US West Texas Intermediate (WTI) crude rose by 1 cent to $41.08.

"Crude prices are attempting to

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