Oil on the back of a strong green, decreasing American Rage count

Crude oil storage tanks will be available at Cush Oil, Oklahoma, March 24, 2016. REUTERS / Nick Nick / File Photo

  • Stable Dollars, US Rage Count Weighed on Weighted Measures
  • Investors will be looking at the Fed’s policy meeting this week to look for clues
  • 23% of U.S. Gulf Mexico raw material remains offline

Singapore, September 20 (Reuters) – Oil prices fell on Monday, the dollar rose to a three-week high and the U.S. rig rose sharply last week, although about a quarter of Mexico’s Gulf production remained offline. Revival of two hurricanes.

Brent Dry Futures lost 33 cents on Friday and fell to $ 64.73 at 6150 GMT at 6150 or 0.8%.

West Texas Intermediate (WTI) crude futures fell 64 cents on Friday to 66 cents or 0.9% to $ 71.31 a barrel.

“Strength in the US dollar over the past few days has brought some skulls to market,” ING Bank researchers said in a statement on Monday.

Oil fell near a three-week high following a rally on Friday, better than expected U.S. retail sales data. That U.S. Federal Reserve was expected to begin reducing asset purchases by the end of this year. Read more

“WTI’s volatility could be strengthened in the next few trading sessions,” said Owanda analyst Edward Moya.

Although such a move would increase in November, a deceptive announcement this week said: “Perhaps some downward pressure on oil and commodity complexity.”

A strong green return will reduce the demand for US dollar-denominated oil for other currencies.

Rage increases in the United States have also been a cover for oil prices. The number of oil and gas compressions has risen from nine to 512 in a week, the highest since April 2020 and double this year, Baker Hughes said Friday.

As of Friday, 23% of US Gulf Gulf raw materials, or 422,078 barrels per day, remained closed, according to the Bureau of Security and Environmental Protection.

Reported by Sonali Paul, Roslan Kassawneh and Kustav Santa in Singapore. Edited by Tom Hogg and Clarence Fernandez

Our Standards – Thomson Reuters Principles.

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