View more in
Business

Oil prices sink as rising U.S. dollar pushes investors out of commodities

worldoil.com
 2021-06-17

(Bloomberg) --Oil slumped as a rising dollar pushed financial investors, who had piled into commodities to guard against inflation, toward the exits for other sectors. Futures in New York fell as much as 3.3% on Thursday. Oil was under pressure as the strengthening U.S. dollar reduced the appeal of commodities priced in the currency a day after the Federal Reserve signaled its ultra-easy monetary policy will soon come to an end. Meanwhile, Iranian remarks suggesting a nuclear deal is close to being revived sparked concerns about a potential flood of crude exports from the Islamic Republic.

www.worldoil.com

Comments / 0

Comments / 0