NEW YORK, July 20 (Xinhua) -- Oil prices went up on Friday as U.S. dollar declined against other major currencies.
The West Texas Intermediate (WTI) for August delivery added 1.00 U.S. dollar to settle at 70.46 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery increased 0.49 dollar to close at 73.07 dollars a barrel on the London ICE Futures Exchange.
The dollar index, which measures the greenback against six major peers, was down 0.70 percent at 94.441 in late trading on Friday. Oil prices were supported as a weaker greenback made the dollar-priced oil more attractive to holders of other currencies.
Meanwhile, oil prices were further lifted as data showed that U.S. energy companies this week cut oil rigs by the most since March.
Energy services firm Baker Hughes said on Friday that U.S. drillers cut 5 oil rigs in the week ending July 20, bringing the total count down to 858. Enditem
