Oil dropped on stronger USD dollar, a broad selloff

International benchmarks for crude oil fell sharply on Thursday, 17 June 2021 as the US dollar appreciated after the Federal Reserve signaled tighter monetary policies ahead. Industry experts said that “technical indicators earlier this week suggested crude had become overbought and Brent prices struggled to make headway near the key, psychological $75/barrel level,” quoted Bloomberg.

Brent slid $1.31 to $73.08/barrel.

WTI fell $1.11 to $71.04/barrel.