Recents in Beach

Oil slips again on surging U.S. dollar

Oil slips again on surging U.S. dollar




Let's take stock of crude prices  where oil prices have fallen nearly two  percent from their  highest level in years as tallest  tendent  after u.s federal deserve signaled it  might raise interest rates  as soon as in 2023 all demand worries  resurfaced after new corona virus cases  jumped and bitten  while supply concerns over return of  iranian battles  also weighed on the market traders  however said friday's  presidential elections in iran could  scuttle nuclear talks between washington  and tehran  and leave u.s sanctions on iran's oil  exports in place the print futures they  were down  one point three dollar or one point  eight percent to settle at  seventy three point zero eight dollar a  barrel while uswti  the crew there fell 1.11 or 1.5  to settle at 71.01  brain settled at highest since april  2019 and wtr at its highest since  october 2018.  even though thursday's declines one  biggest daily percentage drops  since may now both benchmarks were still  up over 40  so far this year the us dollar meanwhile  strengthened to its highest since  mid-april against a  basket over the currencies after fed  signaled it might raise interest rates  at a much faster pace than assumed a  firmer greenback meanwhile makes oil  more expensive in other currencies  this could then demand britain reported  its biggest daily rise in new cases of  kobe 19  since feb 19 yesterday now analysts have  said iran could boost  oil supplies by 1 million to 2 million  barrels per day  if sanctions are lifted another drag on  food prices will be there.

Post a Comment

0 Comments