Crude oil is attempting recovery in early Asia on Friday, following a sharp plunge in the previous session amid recession woes that feared slump in demand for the commodity. Yesterday, oil fell by more than 4%. Besides, renewed strength in dollar since the start of the week also kept oil prices under pressure that is all set for a weekly decline of nearly 1%. The dollar index that measures the greenback against a basket of currencies is quoting at 109.49, close to its recent peaks. WTI crude oil futures are seen up 0.25% at $85.31 per barrel. Powered by Commodity Insights
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