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Oil Prices Fall Due to The Rise of The US Dollar

A.F 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.

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