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Commodities Briefing - Categorized | Oil, Price Watch more

Brent dips below $101 on demand worries, firmer dollar

Posted on 24 June 2013

Brent crude futures traded below $101 a barrel on Monday, hurt by a stronger dollar and concerns over slower growth in demand for oil in the United States and China. The European benchmark dropped nearly 5 percent last week in its biggest weekly drop since early April, after Federal Reserve Chairman Ben Bernanke laid out a strategy for paring back monetary stimulus, broadly sapping demand for commodities.
The step by the U.S. central bank also lifted the dollar, making it more expensive for holders of other currencies to buy greenback-denominated oil………………………………………..Full Article: Source


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