Crude prices fall as dollar recovers, U.S. shale production increases
2017-02-17 18:10:10 GMT (Economies.com)
Crude prices fall as dollar recovers, U.S. shale production increases

Crude prices fell on Friday ahead of the weekend after yesterday's climb, as wavering continues due to conflicting factors on prices.
 
U.S. crude futures last traded at $53.13 a barrel, down from the opening of $53.43, with an intraday high at $53.50, and a low at $52.87.
 
Crude's decline comes as U.S. shale production increases, leading to surges in crude and gasoline inventories in recent weeks and causing oversupply concerns.
 
On the other hand, the dollar rose against a basket of currencies away from a one-week low hit yesterday, as odds rise of another rate hike in the Federal Reserve's next meeting, hurting the greenback-denominated crude futures.
 
Crude's decline was limited however, and within its recent range, after OPEC left the door open for more production cuts to underpin prices.

 
 
 
 SymbolLastChangeChg.%
1.0562
-0.00
-0.17
1.2462
-0.01
-0.73
18.38
0.19
1.04
54.04
-0.34
-0.62
1257.20
7.83
0.63
 
Forex News
 
 
USD to Arab Currencies
Yemen249.9500
UAE3.6720
Tunisia2.2933
Syria514.9800
Sudan6.3997
Saudi Arabia3.7499
Qatar3.6407
Oman0.3845
Morocco10.1008
Libya1.4263
Lebanon1512.0000
Kuwait0.3050
Jordan0.7075
Iraq1181.0000
Egypt15.7500
Bahrain0.3765
Algeria109.9290