Oil prices are falling due to the strength of the dollar and economic concerns

Brent 90 cents, or 1.09 percent, to $81.78 a barrel by 1055 GMT. fell West Texas Intermediate Crude 79 cents, or $1.03, to $76.14.

Earlier in the session, both contracts were down by more than a dollar, while Brent was up more than dollar in Asian transactions.

registered Oil futures Yesterday, Monday, its largest daily decline in two weeks, after data indicated US service sector to the strength of the country’s economy.

The data reinforced the belief among investors that the Fed Federal It may continue for a longer period of time to adopt sharp price increases Benefitwhich supported dollar index today.

makes a hike dollar oil The denominator is more expensive for buyers than holders of other currencies, which reduces demand for it.

said Tamas Varga of BVM Oil Brokerage "Difficulties can be caused inflation In global economic turmoil in the coming months"but he added "Gradual opening in China It is an initial positive development".

More cities commute in China Restrictions related to COVID-19, fueling optimism about increased demand in the world’s largest oil importer.

The market was assessing the impact of production by setting a ceiling at $60 per barrel Russian crude By G-7 AndEuropean Union Australiawhich contributed to market volatility.

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Crude futures fell Brent 90 cents, or 1.09 percent, to $81.78 a barrel by 1055 GMT. fell West Texas Intermediate Crude 79 cents, or $1.03, to $76.14.

Earlier in the session, both contracts were down by more than a dollar, while Brent was up more than dollar in Asian transactions.

registered Oil futures Yesterday, Monday, its largest daily decline in two weeks, after data indicated US service sector to the strength of the country’s economy.

The data reinforced the belief among investors that the Fed Federal It may continue for a longer period of time to adopt sharp price increases Benefitwhich supported dollar index today.

makes a hike dollar oil The denominator is more expensive for buyers than holders of other currencies, which reduces demand for it.

Tamas Varga of oil brokerage PVM said: inflation In global economic turmoil in the coming months,” but added, “the gradual opening in China It’s a positive development in principle.”

More cities commute in China Restrictions related to COVID-19, fueling optimism about increased demand in the world’s largest oil importer.

The market was assessing the impact of production by setting a ceiling at $60 per barrel Russian crude By G-7 AndEuropean Union Australiawhich contributed to market volatility.

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