Crude prices fall to three-week trough
2017-01-10 17:39:55 GMT (Economies.com)
Crude prices fall to three-week trough

Crude prices fell on Tuesday for the second consecutive day as demand fell on crude ahead of U.S. inventory data, even as the dollar slipped against main currencies.
 
U.S. crude futures last traded at $51.34 a barrel, down from the opening price of $51.76, with an intraday high at $52.34, and a low at $51.15.
 
Crude's drop comes amid mounting negative pressures due to expectations of higher producers levels from the U.S. and Iraq, which might offset the decline in OPEC and Russian production, after the U.S. rig count rose last week.
 
Markets now focus again on U.S. crude inventories to gauge the size of American production and its impact of global oversupply, which pushed prices lower.
 
On the other hand, crude prices fell despite dollar's decline against major rivals, which would've buoyed the futures, but oversupply concerns had the bigger impact.

 
 
 
 
Forex News
 
 
USD to Arab Currencies
Yemen249.9500
UAE3.6728
Tunisia2.2765
Syria514.9800
Sudan6.4077
Saudi Arabia3.7488
Qatar3.6405
Oman0.3848
Morocco9.9710
Libya1.4283
Lebanon1505.4000
Kuwait0.3048
Jordan0.7080
Iraq1181.0000
Egypt18.6000
Bahrain0.3769
Algeria109.4040