International Oil Prices Close Higher as US Dollar Weakens and Concerns Grow Over Russian Supply Disruptions
Brent crude oil, the global benchmark, closed up 1% on Monday as market concerns over escalating Russia-Ukraine conflict raised fears of supply disruptions, while a weaker US dollar provided additional support.
Brent crude oil futures closed up 67 cents, or 1%, at $68.15 per barrel. As of 2:15 p.m. Eastern Time, US benchmark West Texas Intermediate crude oil futures rose 67 cents, or 1.1%, to $64.68 per barrel.
Due to the US Labor Day holiday, West Texas Intermediate crude oil futures will not be settled on Monday. As a result, trading volumes for both Brent crude and West Texas Intermediate crude have declined.
The market remains concerned about Russia's oil supply. According to tanker tracking data cited by ANZ analysts, weekly oil shipments from Russian ports have fallen to a four-week low of 2.72 million barrels per day.
In addition, the US labor market report to be released this week will reflect the health of the US economy and test investors' confidence in the upcoming interest rate cuts. Expectations of rate cuts have increased investor interest in riskier assets such as commodities.
Prior to the data release, the US dollar hovered near a five-week low on Monday, making it cheaper for buyers using other currencies to purchase oil.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin's Bearish Momentum vs. Gold's Bullish Breakout: A Macro-Driven Reallocation in Late 2025
- In late 2025, Bitcoin faces bearish momentum while gold hits record highs, driven by institutional capital reallocation amid macroeconomic shifts and regulatory clarity. - Bitcoin’s 30% August correction to $75,000 and 3.68M BTC institutional accumulation highlight its equity-like volatility and susceptibility to Fed policy shifts. - Gold surges to $3,534/oz on 710 tonnes of central bank purchases and $19.2B ETF inflows, reinforcing its role as a safe-haven asset against inflation and geopolitical risks.
Ethereum ETFs Surpassing Bitcoin in Institutional Adoption: Why Ethereum is Now the Preferred Crypto Asset for Institutional Portfolios
- Ethereum ETFs outpaced Bitcoin in 2025 institutional inflows, driven by yield generation, regulatory clarity, and technological upgrades. - Ethereum’s 4.5–5.2% staking yields and CLARITY Act utility token reclassification attracted risk-averse investors over Bitcoin’s speculative profile. - Dencun/Pectra upgrades reduced gas fees by 94%, boosting Ethereum’s DeFi TVL to $223B and enabling a 60% portfolio allocation to Ethereum-based products. - Ethereum derivatives open interest surged to $132.6B (vs. Bit
The Dollar's Decline and the Rise of Digital and Physical Safe Havens
- U.S. dollar's share in central bank reserves fell to 57.74% in Q1 2025 from 71% in 2001, driven by diversification into gold and digital assets. - Central banks purchased 166 tonnes of gold in Q2 2025, with 76% expecting increased gold holdings by 2030 as geopolitical hedging strategy. - CBDCs and cryptocurrencies are reshaping portfolios, with BRICS digital systems challenging dollar dominance while U.S. stablecoins counter de-dollarization. - Investors now prioritize green bonds, emerging markets, and
Bitcoin News Today: Bitcoin at Crossroads: Red September, Fed Moves, and Halving Weigh on Market Fate
- Bitcoin trades near $108,500 amid bearish short-term momentum despite 2025 all-time highs above $120,000. - Technical indicators show oversold RSI below 30, but falling trend channels and key support at $101,300 signal negative near-term outlook. - "Red September" history, Fed rate cut expectations, and $751M ETF outflows heighten volatility risks as whale accumulation accelerates. - Long-term holders maintain confidence with declining exchange reserves, while halving anticipation and sub-cycle NVT metri
Trending news
MoreCrypto prices
More
