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This bank had considered the possibility of higher oil prices before Russia and Saudi Arabia announced on September 5 that they would extend their supply cut plan until the end of this year. This announcement pushed Brent North Sea oil prices above 91 USD/barrel for the first time in the past 10 months. BetRivers, Against major currencies, the dollar index was at 104.69, near a six-month high of 104.90. A strong dollar could put pressure on oil demand by making the fuel more expensive for holders of other currencies.
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