Oil falls to 82 dollars
Oil dropped to
around 82 dollars per barrel on Tuesday, consolidating after two days
of gains, as the dollar rose, ahead of a report expected to show an
increase in U.S. crude oil stockpiles.
U.S. crude for
December CLc1 fell 60 cents to 81.92 dollars, losing ground after
rising almost two dollars in the previous two days. ICE Brent LCOc1
lost 42 cents to 83.12 dollars.
Oil also came under
pressure from a rising dollar. Crude prices are more dependent on
dollar fluctuations than at any time in the last 14 months, as
speculation intensifies that the U.S. Federal Reserve will embark on a
fresh round of monetary stimulus to boost recovery.
Leave a Reply