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Oil Prices Fall on Higher US Dollar, Economic Fears

Started by Epoch-Times-Bot, Dec 06, 2022, 06:45 AM

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Epoch-Times-Bot

Dec 06, 2022, 06:45 AM
Oil Prices Fall on Higher US Dollar, Economic Fears

LONDON—Oil prices fell in a volatile market on Tuesday, as a stronger U.S. dollar and economic uncertainty offset the bullish impact of a price cap placed on Russian oil and prospects of a demand boost in China.
Brent crude futures fell 90 cents, or $1.09 percent, to $81.78 a barrel by 1055 GMT. West Texas Intermediate crude (WTI) fell 79 cents, or $1.03 percent, to $76.14.
Earlier in the session, both contracts fell by more than $1 while Brent rose by over $1 in Asian trading.
Crude futures on Monday recorded their biggest daily drop in two weeks after U.S. services industry data indicated a strong U.S. economy....

Source: Oil Prices Fall on Higher US Dollar, Economic Fears

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