Crude Oil Slides Amid Firm Dollar Overseas

14 Nov 2022 , 03:37 PM

Crude oil fell on Monday, weighed down by a firmer US dollar overseas. The dollar index rose toward 107 on Monday, rising slightly from near three-month lows after Federal Reserve Governor Christopher Waller warned investors against getting too optimistic over one inflation report, and said that the central bank ?still got a ways to go? with interest rate hikes. The dollar index that measures the greenback against a basket of currencies was quoting at 106.77. Besides, worsening corona virus situation in China dashed hopes of the reopening of the economy of the worlds biggest crude importer, adding pressure on the commodity. WTI crude oil is currently quoting down 0.46% at $88.55 per barrel. Powered by Commodity Insights