Oil up on strong China refinery data, weaker U.S. dollar
Oil prices rose on Thursday due to a weaker dollar and a jump in refinery runs in China. Brent crude futures surged by 1.58% to $74.36 a barrel, while US West Texas Intermediate crude increased by 1.61% to $69.37 a barrel. Experts suggest that oil prices could receive further support in the coming months after voluntary production cuts by OPEC+ countries, alongside strong demand.
