SINGAPORE (Reuters) – Oil prices fell on Wednesday, weighed down as the U.S. dollar moved further away from three-year lows hit last week.

U.S. West Texas Intermediate (WTI) crude futures were at $61.37 a barrel at 0144 GMT, down 42 cents, or 0.7% from their last settlement.

Brent crude futures had dropped 36 cents, or 0.6 percent, from their last close to $64.89 per barrel.

Wang Tao, Reuters technical commodity analyst, said Brent could fall into a range of $63.92-$64.41 per barrel, as suggested by its wave pattern and a projection analysis.

Traders said the declines were driven by a recovery in the dollar, which potentially hits fuel demand as it makes greenback-denominated oil imports more expensive for countries using other currencies at home.

The dollar steadied against a basket of currencies on Wednesday, having pulled up from three-year lows set last week as traders shaved off some of the bearish bets against the U.S. currency.

“The U.S. dollar continues to find firmer footing,” said Stephen Innes, head of trading for Asia-Pacific at futures brokerage OANDA in Singapore.

Overall, however, oil markets remain well supported due to healthy demand-growth and supply restraint by the Organization of the Petroleum Exporting Countries (OPEC), which started last year to draw down excess global inventories.




Facebook Comments


  1. Pingback: albuterol inhaler
  2. Pingback: 100mg viagra
  3. Pingback: buy chloroquine
  4. Pingback: canadain viagra
  5. Pingback: celexa 10 mg otc
  6. Pingback: cipro 500mg cheap
  7. Pingback: casino real money
  8. Pingback: real casino
  9. Pingback: best online casino
  10. Pingback: aig car insurance
  11. Pingback: payday loans in wv
  12. Pingback: cbd capsules
  13. Pingback: cbd oil online
  14. Pingback: writers essay
  15. Pingback: buy custom essay
  16. Pingback: essays
  17. Pingback: cleocin otc
  18. Pingback: cheap dapsone caps
  19. Pingback: ddavp 10 mcg cost
  20. Pingback: differin australia
  21. Pingback: doxycycline coupon
  22. Pingback: erythromycin price
  23. Pingback: flomax nz
  24. Pingback: geodon coupon
  25. Pingback: hyzaar 12,5 mg uk
  26. Pingback: imitrex price
  27. Pingback: imodium for sale
  28. Pingback: visit site
  29. Pingback: indocin coupon
  30. Pingback: cheapest levaquin
  31. Pingback: lopid generic
  32. Pingback: mestinon 60mg uk
  33. Pingback: cheapest micardis
  34. Pingback: phenergan 25 mg nz
  35. Pingback: prevacid tablet
  36. Pingback: buy proscar
  37. Pingback: protonix prices
  38. Pingback: buy pulmicort
  39. Pingback: reglan 10mg cost
  40. Pingback: buy risperdal
  41. Pingback: rogaine 5% uk
  42. Pingback: singulair cheap
  43. Pingback: skelaxin 400mg usa
  44. Pingback: spiriva 9mcg price
  45. Pingback: cheapest tenormin
  46. Pingback: valtrex 500 mg otc
  47. Pingback: wellbutrin price
  48. Pingback: zanaflex 4mg otc
  49. Pingback: click
  50. Pingback: zocor 20mg generic
  51. Pingback: zovirax 400mg nz
  52. Pingback: zyprexa for sale
  53. Pingback: sildenafil prices
  54. Pingback: tadalafil prices
  55. Pingback: fexofenadine usa
  56. Pingback: donepezil generic
  57. Pingback: buy buspirone 5 mg
  58. Pingback: cost of citalopram
  59. Pingback: cheap loratadine
  60. Pingback: clozapine price
  61. Pingback: tolterodine canada
  62. Pingback: cheap oxybutynin
  63. Pingback: doxycycline nz
  64. Pingback: amitriptyline otc
  65. Pingback: order loperamide
  66. Pingback: order propranolol
  67. Pingback: levofloxacin pills
  68. Pingback: metoprolol coupon
  69. Pingback: ivermect 6mg
  70. Pingback: stromectol reddit
  71. Pingback: ivermectin 6 mg
  72. Pingback: ivermectin generic
  73. Pingback: viagra 10 mg
  74. Pingback: plaquenil for sale

Comments are closed.