Crude Oil Declined on rising U.S Dollar

Crude Oil Declined on rising U.S Dollar

Mar 09 2015

Crude oil dropped below $60 per barrel, and the prices were affected by the release of upbeat U.S jobs data which pushed the dollar high. In fact, U.S Dollar rebounded to 11 year high against a basket of major currencies, which has increased expectations that the Federal Reserve may raise its interest rates sooner than  expectations.

Furthermore, the oil prices were affected by the rising of geopolitical tensions and growing worries about cutting oil production from Libya and Iraq. In addition to the rising of U.S inventories .Thus some analysts expect that U.S crude oil could drop to around $40 per barrel.

To know more about our analysis and currencies reaction, join our Forum Trader for FREE!! http://forum-trader.com/en/
For more info, please visit our website on: http://www.capitol-academy.com/en/news_fx.html