# Oil Kept Afloat by Weak Dollar With Physical Market Stuttering - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com

> Oil edged lower toward $41 a barrel as signs of weakening fundamentals emerged, including Rystad expecting supply to exceed demand for four months. Prices weakened in futures structure and physical markets in the Middle East and Russia, while the dollar fell to its lowest since September 2018. OPEC+ prepares to taper cuts as the pandemic resurges.

- Date: 2020-07-28 · published 2020-07-28T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/52265-oil-kept-afloat-by-weak-dollar-with-physical-market-stuttering-energy-news-top
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expected oversupply and a weaker physical market point to lower crude prices, while dollar weakness partly offsets this by supporting dollar-priced commodities.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- energynow.com: https://energynow.com/2020/07/oil-kept-afloat-by-weak-dollar-with-physical-market-stuttering/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.