Reported 10 days ago
Oil prices have decreased as the US dollar strengthens, impacting commodity costs and raising concerns about demand growth. Brent crude fell below $72 per barrel, while West Texas Intermediate hovered around $68. The strengthening dollar, spurred by political shifts and economic resilience, has made commodities more expensive for international buyers. Additionally, the weakening demand from China and lower growth forecasts from OPEC have added to the bearish sentiment on oil prices.
Source: YAHOO