Oil prices rise on China's stock market rally, declining Dollar

Source: WBP Online
© Scanpix/Reuters
Oil futures rallied on Friday amid rebound in the Chinese stocks and the weakening Dollar, while investors kept an eye on Iran's nuclear talks. New York-traded NYMEX traded 1.8% higher to $53.70 a barrel and the London-traded Brent Crude rose 1.7% to $59.85 a barrel by 7:20 AM GMT. On Friday, major Chinese equity indexes rallied between two and five percent, therefore mitigating worries over decreasing demand for oil in China. 
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