Open Demo Account
Home / Market Update / Commodities / Oil Prices Fall Due to The Rise of The US Dollar

Oil Prices Fall Due to The Rise of The US Dollar

Adel 17 June, 2021 12:05 pm Commodities, Market Update

Crude oil prices fell on Thursday as the US dollar rose after the Federal Reserve hinted that it may raise interest rates faster than expected, but losses were limited thanks to a significant drop in US crude inventories.

Brent crude futures fell 42 cents, or 0.6%, to $73.97 a barrel, after hitting their highest levels since April 2019 in the previous session.

US crude futures fell 42 cents, or 0.6%, to $71.73 a barrel, after hitting their highest levels since October 2018 the previous day.

Tags

Check Also

Gold Prices Hold Steady Amid Fiscal Concerns and Trade Uncertainty Ahead of Key U.S. Jobs Data

Gold prices held steady in Asian trading on Thursday, following three consecutive days of gains. …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends