West Texas Intermediate crude (WTI) closed 64 cents at $71.97 a barrel. The market is pressured by the US dollar. strengthening
New York West Texas Intermediate Crude Oil (WTI) ended negative on Wednesday (17 Sept.), under pressure from the US dollar. strengthening This makes the crude oil contract priced in dollars. It is more expensive and less attractive to investors holding other currencies.
WTI crude oil contract for delivery in October It was down 64 cents, or 0.9%, to close at $71.97 a barrel, up 3.2 percent for the week.
Brent crude oil contract (BRENT) for delivery in November It was down 33 cents, or 0.4%, at $75.34 a barrel, but was up 3.3 percent for the week.
The US oil market pressured by a stronger dollar Against the six major currencies in a basket of currencies rose 0.28% to 93.1881 overnight. Meanwhile, crude oil production in the Gulf of Mexico. which had just recovered from the effects of Hurricane Ida. It is still a deterrent factor in the oil market continuously.
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