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Oil Price Fundamental Daily Forecast – Strong Dollar Dragging Down Commodities including Crude Oil

fxempire.com
 2021-06-17

Cover picture for the articleU.S. West Texas Intermediate and international-benchmark Brent crude oil futures are down over 2% late in the session on Thursday. Technical factors as well as a strong U.S. Dollar are weighing on prices. Overbought technical indicators are encouraging profit-taking after the markets posted a 17-session rally, while the strong dollar is reducing foreign demand for the dollar-denominated commodity.

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