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Oil falls due to excess production and dollar strength

November 15, 2016 by Staff News Writer

Oil fell on Monday at the end of European trading due to a stronger dollar and signs of excess oil production.

At about 5 p.m. (11 a.m. Costa Rica time), a barrel of Brent North Sea to be delivered in January was worth $ 43.60 in the Intercontinental Exchange (ICE) in London, $ 1.15 less than on Friday and the lowest level in three months.

On the New York Mercantile Exchange (NYMEX), a barrel of “light sweet crude” (WTI) for December delivery lost $ 1.14, reaching $42.27, also its lowest level in three months.

crhoy.com

Related articles:

  1. Oil prices are increasing because oil reserves decreased in America
  2. Oil price dropped to its lowest level in a month
  3. Oil continues to rise but doesn’t reach $50
  4. The euro falls against a dollar strengthened by Donald Trump
  5. Oil continues to fall as threat of increased production rises
  6. Oil directs Costa Rican inflation

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