Oil falls for second straight day, US crude drops nearly 2%

2021-02-19 19:11:59 GMT (Economies.com)
Oil falls for second straight day, US crude drops nearly 2%

Oil prices fell on Friday, as the US dollar fell against its peers, while the US crude pared its 13-month high.

 

The US Energy Information Administration reported on Wednesday that crude inventories fell 7.3 million barrels last week, beating forecasts of a drop by 2.1 million barrels.

 

This came as the cold weather conditions in country started to recede.

 

Baker Hughes Co. will report later today its count of the US oil and natural gas rigs for this week.

 

The dollar index fell against a basket of major currencies by 0.3% to 90.3 points as of 17:49 GMT, after hitting a high of 90.6 points and a low of 90.1 points.

 

As of 17:44 GMT, WTI crude March futures fell 1.7% to $59.4 a barrel, after hitting a day high of $60.2 and a low of $58.5.

 

Brent April futures fell 1.2% to $63.1 a barrel, after hitting a high of $63.9 and a low of $62.09.

 
 
 
  Symbol Last Change Chg.%
1.2158
0.0013
0.1095%
1.4131
0.0095
0.6750%
Tadawul
9115.76
-51.05
0.56%
27.965
0.509
1.854%
63.481
3.092
5.120%
67.04
1.94
2.98%
1798.455
0.510
0.028%
 
 
Live Forex Updates