(RTTNews) - The price of crude oiledged up for a second session Friday morning amid a weak U.S. dollar.
Light Sweet Crude Oil (WTI) futures for November delivery, inched up $0.20 to $75.38 a barrel. Yesterday, oil reversed from early morning losses to settle higher following better-than-expected August existing home sales data.
Meanwhile, the U.S. dollar slipped back near its 4-month low versus the euro, while struggling for direction against sterling. The buck continued to surrender some of its recent gains versus the yen, moving back near its multi-year low.
The euro ticked higher after German business sentiment rose unexpectedly to 106.8 in September from 106.7 in August.
Today traders will look to the data on August new homes sales and durable goods orders from the U.S. , due out later today. Economists expect a 0.9% drop in durable goods orders for August following a modest 0.4% growth reported for July and expect new home sales to rise to an annualized rate of 293,000 in August following a sharp drop to 276,000 in July.
