Crude oil prices drop, pressured by stronger U.S. dollar

Oil dips by $4 in 2 days as output cut standoff lingers

Crude oil prices drop, pressured by stronger U.S. dollar     Crude oil prices fell on Thursday pressured by a stronger U.S. dollar, but losses were limited by a big drop in crude oil inventories in the United States, the world’s top oil consumer. Brent crude oil futures dropped by 74 cents, or 1%, to $73.65 a barrel by 0103 GMT after reaching its highest since April 2019 in the previous session. U.S. crude oil futures fell by 69 cents, or 1%, to $71.46 a barrel, after reaching its highest…

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Crude oil price rises above $61

Oil dips by $4 in 2 days as output cut standoff lingers

Crude oil price today rises above $61   The international oil benchmark, Brent crude, rose further on Tuesday, trading above $61 per barrel. Brent had hit the $60 per barrel mark on Monday for the first in more than a year. The further rise in oil prices comes amid optimism for a vaccine-led economic recovery and a commitment by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) to restrain the supply of crude oil. Brent, against which Nigeria’s oil is priced, increased by $0.53 to $61.09 per…

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