Oil and Dollar Rise Ahead of Inflation Data
Oil prices climbed on Monday as supply concerns overshadowed hopes for improvement, while the dollar gained strength. Investors awaited key inflation data and the start of the third-quarter earnings season.
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West Texas Oil rose 1.9% to $93.55 a barrel on Monday as attacks in Saudi Arabia heightened supply concerns. The surge pushed the United States dollar higher as traders priced in tighter monetary policy. Higher energy costs threaten to keep inflation elevated, pressuring global equities ahead of third-quarter earnings.
