The dollar-denominated commodity also got an added boost after the Bank of England’s surprise decision to leave its key interest rate at a record low lifted the British pound GBPUSD, +0.8243% putting some pressure on the U.S. dollar.
August West Texas Intermediate crude CLQ6, -0.53% rose 93 cents, or 2.1%, to settle at $45.68 a barrel on the New York Mercantile Exchange. Week to date, it has gained about 0.6% but was down nearly 6% for the month so far. September Brent crude LCOU6, -0.46% on London’s ICE Futures exchange rose $1.11, or 2.4%, to end at $47.37 a barrel.
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