Oil is declining and the dollar is heading for a weekly loss

Washington - Ofoq News - Oil prices fell slightly in spot trading on Friday morning.

Brent crude futures fell by 41 cents, or 0.39%, to $105.51 per barrel, while US West Texas Intermediate crude futures fell by 54 cents, or 0.55%, to $97.43 per barrel.

In addition, the dollar fell against a number of major currencies today, amid fluctuations in the markets, heading towards recording a weekly loss.

The dollar index, which measures the performance of the US currency against six major currencies, reached 102.07 points, heading towards a weekly decline of 0.14%.

The pound sterling settled at $1.3270, heading towards weekly gains of 0.3%, supported by data showing that the British economy grew unexpectedly by 0.1% in August.

The New Zealand dollar settled at $0.5621, heading towards recording weekly gains of 0.1%.

On the other hand, the Australian dollar stabilized at $0.6921, but it is heading to record a weekly decline of 0.8% against the dollar, after the weak jobs report issued yesterday, Thursday, led to a decline in market expectations for an additional hike in interest rates.