MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
New York’s main contract, West Texas Intermediate crude for delivery in July, gained 15 cents to $94.91 a barrel in the afternoon and Brent North Sea crude for July added 18 cents to $103.79.
“The decline in the US dollar is giving support to oil prices,” Ric Spooner, chief market analyst at CMC Markets in Sydney, told AFP.
“Traders are basically positioning themselves for US non-farm payrolls data after last night’s levels.”
The dollar weakened in Asia as investors grow nervous about the US jobs report, which will provide fresh clues about the state of the world’s biggest economy, and indicate how and when the Fed will begin to reel in its huge monetary easing programme.
As oil is traded in the US currency, a weaker dollar makes the commodity cheaper, spurring demand and boosting prices.
Oil prices have been given some support after the Department of Energy on Wednesday said stockpiles in the United States plunged 6.3 million barrels in the week ended May 31, much more than the average 400,000 analysts expected.
MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
His visit to Cairo aimed to salvage stalled negotiations mediated by Egypt, Qatar and the United States to end the conflict
The group accused Israel, which has so far refused to comment, as US denies involvement
Hundreds of pagers belonging to the armed group exploded in Lebanon on Tuesday, killed 12 people, including two children, and wounded up to 2,800 others
They view it as a pivotal move toward fostering inclusivity and diversity in corporate structures
Israel has not yet commented on the explosions
The meeting saw engaging discussions on Sinomach’s strategic initiatives and ongoing projects in the region