Oil prices fall on stronger dollar; Russia warns of longer crude glut

Oil prices fall on stronger dollar; Russia warns of longer crude glut
 

SINGAPORE Oil prices dipped in early trading on Friday as a stronger dollar weighed and Russia warned that a global crude supply overhang could last into next year.
The dollar has recovered 2.46 percent in value from May lows against a basket of other leading currencies .DXY, reversing an almost 8-percent fall earlier in the year.
A stronger dollar, in which oil is traded, makes fuel imports more expensive for countries using other currencies, potentially hitting demand.
International Brent crude futures LCOc1 were trading at $47.71 (£33) per barrel at 0025 GMT, down 37 cents from their... read more

 
13 May 2016 in Business, Views: 35
Source: Reuters
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