Oil News

Crude to fall as the dollar strengthens and Inventories are predicted higher

Crude to fall as the dollar strengthens and Inventories are predicted higher

Crude is trading at $73.42 as of 8:05am, GMT, with a bearish trend

Oil fell after an industry report showed crude and gasoline stockpiles in the U.S. increased last week, boosting speculation fuel demand may be slow to recover in the largest energy consuming country. Oil rose yesterday after the dollar fell the most since November against the euro on speculation the European Union will consider a bailout of Greece. The country is facing a debt crisis that has roiled bond markets in the euro region

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