Oil rises over $1 after US dollar weakens to 1-week low; Brent hits $84/bbl ahead of OPEC+ policy verdict

News Snapshot:

Crude oil prices rose by more than $1 per barrel on Tuesday, May 28, on the expectations that the Organization of the Petroleum Exporting Countries and allies (OPEC+) will maintain the current crude supply curbs, while a weaker US dollar made the commodity more attractive to holders of other currencies. The July contract for global benchmark Brent crude rose $1.04, or 1.3 per cent, to $84.14 a barrel. US West Texas Intermediate crude (WTI) was at $79.78, up $2.06, or 2.7 per cent, from Friday's close, having traded through Monday's US mark Memorial Day holiday without a settlement, according to...