CryptoCurrency
Oil Slips But Weaker Dollar, China’s Economic Data Cap Losses
Oil prices edged lower despite a weaker dollar and robust economic growth in China, with focus on renewed trade tensions between the U.S. and Europe over Greenland.
Brent crude was down 0.7% to $63.52 a barrel, while WTI slipped 0.5% to $58.45 a barrel. The U.S. dollar index was down 0.8% to 98.60, providing a floor to oil and the broader commodities complex.
“While ICE Brent edged lower [Monday], settling 0.3% lower on the day, it held up relatively well amid the broader riskoff move in markets,” analysts at ING wrote. “Continued firmness in ICE Brent timespreads will also help buoy the market, as it suggests a tighter spot physical market.”
Continue Reading
