|10-03-2014, 03:46 PM||#1|
Crude oil prices continue free fall as the dollar rallies
Both U.S. crude and Brent futures declined on Friday, as oversupply and a stronger dollar continued to weigh on oil prices.
November Brent fell 64 cents at $92.76 per barrel, heading for the fourth daily decline. Brent prices on Thursday fell to $91.55 a barrel, the lowest since June 2012.
The sell-off came on the back of Saudi Arabia markedly lowering its official selling prices for buyers across most regions in November.
Brent has declined from $114 per barrel hit in mid-June amid abundant supply from the North Sea dn Atlantic Basin, and larger North American output.
U.S. crude futures for November delivery fell 62 cents to $90.39 a barrel. As of 07:41 a.m. ET (11:41 GMT)
The spread between Brent futures and U.S. crude futures hit its lowest since August 2013 at $2.15 in early Friday trade.
The powerful rally in the U.S. dollar continues to hurt commodities. The dollar jumped 0.43% against a basket of currencies by 11:42 GMT.
Traders pushed the U.S. dollar higher on Friday ahead of a report by the U.S. government that is likely to show robust job growth in September. A strong jobs report could strengthen the case for the Federal Reserve to hike interest rates.
Geopolitical tensions in Eastern Europe, the Middle East and Asia over the past months have had little impact on oil production and have failed to stop a fall in oil prices.
|مواقع النشر (المفضلة)|
|الذين يشاهدون محتوى الموضوع الآن : 1 ( الأعضاء 0 والزوار 1)|
|أدوات الموضوع||إبحث في الموضوع|
|انواع عرض الموضوع|
|الموضوع||كاتب الموضوع||المنتدى||مشاركات||آخر مشاركة|
|Gold and crude plummet in New York on dollar and week updates||Hazem Ahlawy||Gold, Silver & Oil||0||09-20-2014 04:45 AM|
|Crude oil prices retreat after U.S. inventories report||Hazem Ahlawy||Gold, Silver & Oil||0||09-17-2014 09:05 PM|
|Gold and crude watch their prices drop in New York||Hazem Ahlawy||Gold, Silver & Oil||0||09-13-2014 02:24 PM|
|Crude oil futures continue retreat on supply and demand fears||Hazem Ahlawy||Gold, Silver & Oil||0||09-11-2014 04:58 AM|
|Crude oil futures retreat as U.S. dollar hits 14-month high||Hazem Ahlawy||Gold, Silver & Oil||0||09-05-2014 12:31 AM|