Oil Prices Lower on Stronger Dollar and Supply Concerns

Pump jacks are seen in the Midway Sunset oilfield

Investors remain wary of rising output from countries outside OPEC deal, including the U.S

Crude Oil: $52.17 per barrel, Natural gas: $3.130/MMBtu, Gold:$ 1234.20 per troy oz.


Crude prices sold off for a second day Tuesday, weighed down by an appreciating dollar and concerns that U.S. government data due out Wednesday will show that oil and fuel inventories are still growing.

U.S. crude futures fell 84 cents, or 1.58%, to $52.17 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 67 cents, or 1.2%, on ICE Futures Europe.

The Wall Street Journal Dollar Index, which tracks…Read more

Resource: WSJ

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