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Oil prices fell for two days as a stronger dollar and rising U.S. crude output weighed on the market, with WTI closing at $64.50 on Tuesday. The dollar then strengthened further after a strong jobs report, and crude ended the Friday session down 35 cents at $65.45.
A stronger dollar and rising U.S. crude supply pressure oil prices lower, which affects diesel and fuel costs for feed transport. Crude weakness also lowers the cost of energy inputs across agriculture.
focusonfracking.blogspot.comFeb 4, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
A stronger dollar after the jobs report and rising U.S. crude output weighed on WTI through currency and supply channels, contributing to the weekly decline, though the cited price levels cover only part of the move.
