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Crude Erases Gains on Stronger Dollar

OIL

Crude prices reversed earlier gains and is trading at the lowest in two days amid strengthening in the US dollar.

  • Brent SEP 23 down -0.4% at 79.13$/bbl
  • WTI SEP 23 down -0.37% at 75.01$/bbl
  • Brent front month eased back from an intra-day high of $80.27/bbl.
  • The USD Index is gaining and pulling back a large part of recent CPI-inspired losses. Partly a corrective move back higher, but also spurred by the better-than-expected initial jobless claims data.

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