Oil prices continue to rise on Thursday amid the weakness of the US dollar. The current price of Brent oil is $93.58 per barrel. North American WTI oil is trading near $90.12 per barrel. The market was supported by a report from the International Energy Agency (IEA), according to which global oil demand in the second half of 2023 will increase by 1.5 million barrels per day, exceeding supply by 1.24 million barrels. The IEA also noted that there was a shortage in the global oil market in the third quarter, as a more active reduction in supply coincided with record high demand. Meanwhile, the DXY index, which displays the value of the US dollar against six key world currencies, fell by 0.03% to 104.56 points. This makes goods whose prices are pegged to the dollar more attractive to buyers.
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