Oil closes in the green zone thanks to rising demand

On Friday, oil prices edged higher following a statement from the IEA saying that international crude demand would grow this year. The IEA forecasts a rise from 97.8 million barrels per day in 2017 to 99.3 million barrels per day this year. However, good news also came with warning that U.S. supply was growing at a faster rate. Non OPEC supply spearheaded by the U.S. will expand by 1.8 million barrels a day this year. In London, Brent crude gained 2 cents closing at $65.14, following a 23 cents rise the previous session. However, Brent crude fell by 0.5 percent overall for the week.

Greenback fell against  the Yen on Trump’s decision to oust the current national security advisor

The greenback declined versus yen after a report from the Washington Post stated that president Trump has unseated H.R. McMaster as the national security advisor.

The greenback was trading 0.3 lower at 106.020 yen, staying a little above its eight day low of 105.790 set on Thursday. Throughout the week, the dollar was traded approximately 0.5 lower against the yen, which is currently considered to be a safe haven. On the contrary, the dollar index, which tracks the currency against its peers, was slightly higher at 90.156 following its recent climb of 0.5 percent the day before.

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