Brent crude futures were down $1.78, or 2.2%, at $81.34 a barrel, and West Texas Intermediate (WTI) futures were down $1.68, or 2.1%, at $77. .55 dollars.
oil prices fall this Thursday, April 19 at your lowest level in three weeksweighed down by the strength of the dollar and the expectations of interest rate hikeswhich outweighed the decline in US oil reserves.
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crude oil futures Brent lose $1.78, or 2.2%, at $81.34 a barrel, and West Texas Intermediate (WTI) $1.68, or 2.1%, remains at $77.55.
After suffer a collapse of 2% on the eveboth referential are at their lowest level since the end of March, just before the unexpected OPEC+ production cut announcement, though not all the gains from that move have yet been wiped out.
equity marketswhich often move in parallel with crude oil prices, they moved away from maximums for several weeks and the dollar index is up about 0.3% so far this week, on track to close its best week since late February.
The strengthening of the greenback makes oil more expensive for holders of other currencies.
The US crude oil stocks fell by 4.6 million barrels, while gasoline inventories rose unexpectedly on disappointing demand, according to the Energy Information Administration (EIA).
On the supply side, it is likely that oil cargo from the western ports of Russia in April to rise to its highest level since 2019, trade and shipping sources said.
Source: Ambito
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