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As the dollar continues to decline. Oil prices fall

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rocky
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As the dollar continues to decline. Oil prices fall

Post by rocky on Fri 26 Jan 2018, 2:52 am

As the dollar continues to decline. Oil prices fall




Oil prices fell on Friday, ahead of the end of the peak winter demand season in the northern hemisphere, although continued supply cuts and a weaker dollar gave ample support to the market.

Brent crude futures were $ 70.22 a barrel by 0556 GMT, down 20 cents, or 0.3 percent, from the previous settlement. Brent crude was up on Thursday at its highest level since December 2014 at $ 71.28 per barrel .

US West Texas Intermediate crude futures were $ 65.38 a barrel, down 13 cents, or 0.2 percent, from the previous session. WTI also hit its highest level since December 2014 at the previous session at $ 66.66 a barrel.

Many of the refineries closed after the winter for maintenance, causing a drop in crude orders








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