The Wall Street Journal reports that Oil futures fell Tuesday, ending a six-day streak of higher prices as the dollar rebounded.
Articles Tagged "rebounds"
Recent dismal economic data and growing U.S. inventories kept oil prices below $50 a barrel Friday despite hopes of a possible second-half recovery in crude demand. Benchmark crude for May delivery fell 40 cents to $49.58 a barrel by Noon in European electronic trading on the New York Mercantile Exchange. The contract on Thursday rose 73 cents to settle at $49.98.
Crude oil jumped back above 116 U.S. dollars a barrel on Tuesday, after the dollar declined against the euro on a weaker U.S. economic report. For more information, click here