W3Schools

Futures Movers: Strong dollar, remarks by Rosneft chief weigh on oil

Crude futures fell again in early Asia trade Friday, weighed down by a strengthening dollar and comments by Russia’s top oil producer that it could increase its production if demand requires.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November CLX6, -2.50% was last traded at $50.36 a barrel, down $0.57 in the Globex electronic session. December Brent crude LCOZ6, -0.31% on London’s ICE Futures exchange slipped $0.21 to $51.17 a barrel.

Since oil transactions are done in dollars, a stronger greenback means a higher cost for oil traders and investors who hold other currencies.

>>> Original Source <<<