Investing.com - Oil prices jumped on Friday, with both Brent and U.S crude contracts moving higher, boosted by the
weaker dollar
The Chinese yuan hit its highest level in 2016 on Friday, reflecting a weakening of the dollar against
other major currencies
The greenback already fell sharply on Thursday following easing measures announced by the ECB
A weaker dollar is supportive for oil prices as it makes dollar-traded oil cheaper, potentially spurring fuel
demand
But the rally could be short-lived as a glut remained in place and a meeting between major producers to
coordinate an output freeze looked unlikely