Oil News

Crude falls as the dollar strengthens on Massachusetts election win

Crude falls as the dollar strengthens on Massachusetts election win

Crude oil is trading at $77.40 as of 21:00pm, GMT, with a bullish trend

U.S. crude oil futures remained low on Wednesday as the dollar held onto sharp gains and Wall Street extended losses on uneasiness aboutdomestic bank results and bank lending curbs in China. The downturnerased Tuesday’s gains in crude futures, which were sparked by gains onU.S. equities due to a surge in pharmaceutical companies that were seenbenefiting from a potential delay in healthcare reforms. The U.S.Energy Information Administration will follow with its data on Thursdayat 11 a.m. EST (1600 GMT). Crude oil is trading at $77.40 as of21:00pm, GMT, with a bullish trend. Crude Pool-Position is 72% Long,meaning that most Finotec clients are buying the commodity.