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Analysts: A weaker dollar and an optimistic outlook for trade talks drove oil prices higher
On April 16, crude oil futures continued to rise, encouraged by the weakness of the dollar and the prospect of U.S. tariff negotiations. Naga.com Middle East analyst George Pavel said in a note that macroeconomic headwinds could limit the recovery in prices, despite optimism about a potential tariff cut, while an increase in U.S. crude inventories suggests ample supply. Without stronger support from the broader market environment, crude oil prices are likely to remain near the lows.