Oil extended the decline on stronger US dollar, economic concerns
Oil extended the decline on stronger US dollar, economic concerns
International benchmarks for crude oil fell for the second session in a row this week on Tuesday, 10 May 2022 on stronger US dollars following the FED rate hike that makes crude more expensive for overseas investors. Meanwhile, traders are wary about the economic outlook.
Brent dropped another $3.48 or 3.28% to close at $102.46/barrel.
WTI fell $3.33 or 3.2% to settle at $99.76/barrel.