AUGAF
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
AUGAF
No Result
View All Result
Home Business

Oil Prices Fall 2% to 3-Week Low on Strong US Dollar

admin-augaf by admin-augaf
October 2, 2023
in Business, News
Reading Time: 1 min read
0
Oil Falls 3% on Powell Statement of Faster Rate Hikes

A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. AUGAF/REUTERS/Tatiana Meel

Share on FacebookShare on TwitterWhatsapp

New York October 2 2023: Oil prices fell about 2% on Monday to a three-week low as a higher-priced Brent contract expired, the U.S. dollar strengthened and traders took profits, concerned about forecasts of rising crude supplies and pressure on demand from high interest rates.

On its first day as the front-month, Brent futures for December delivery fell to $90.78 a barrel by 11:24 a.m. EDT (1524 GMT), down $1.42, or 1.5%, from Friday’s close and also down about 4% from where the November future closed on Friday when it was still the front-month. That was the Brent front-month’s biggest daily percentage decline since late May.

U.S. West Texas Intermediate (WTI) crude fell $1.90, or 2.1%, to $88.89 per barrel.

Both benchmarks were headed for their third daily decline and their lowest settlements since mid-September.

Energy analysts cited profit taking after crude prices rose nearly 30% in the third quarter to 10-month highs. As of late last week, U.S. speculators had boosted their net long futures and options position on the New York Mercantile and Intercontinental Exchanges to the highest since May 2022, according to the U.S. Commodity Futures Trading Commission.

Source: Reuters
Tags: CommoditiesOil Prices
admin-augaf

admin-augaf

Related Posts

BYD’s Supply Chain Financing Masks Ballooning Debt, Research Firm Says
Business

BYD Beats Tesla in Europe for the First Time With 169% Surge

May 22, 2025
Saudi Arabia Eyes $600 Billion Investment In Petrochemical Sector
Business

Oil Prices Fall More Than 1% on Potential Further Increase to OPEC+ Output

May 22, 2025
Pakistan Witness 10% Increase In Companies Registration
Business

SECP Warns Against Online Investment Platforms Including Interactive Broker

May 22, 2025
Fair Global Consult Fair Global Consult Fair Global Consult
ADVERTISEMENT

Recent News

BYD’s Supply Chain Financing Masks Ballooning Debt, Research Firm Says

BYD Beats Tesla in Europe for the First Time With 169% Surge

May 22, 2025
Saudi Arabia Eyes $600 Billion Investment In Petrochemical Sector

Oil Prices Fall More Than 1% on Potential Further Increase to OPEC+ Output

May 22, 2025
Pakistan Witness 10% Increase In Companies Registration

SECP Warns Against Online Investment Platforms Including Interactive Broker

May 22, 2025
Bitcoin

Bitcoin Rally Takes Largest Token Past $111,000 for First Time

May 22, 2025
US Carbon Emissions To Decline Due To Shift In Power Generation Sources

Pakistan Lower House Passes Off the Grid Captive Power Plants Levy Bill

May 22, 2025

Popular News

  • NSS

    President Prohibit National Savings For Changing Rates on Existing Certificates Retrospectively

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Appreciate against Dollar in Interbank as IMF Confirmed Board Review Date

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall After 13 Days of Successive Gains against Dollar on Lower Remittances and Strengthening of US Dollar

    0 shares
    Share 0 Tweet 0
  • Petrol Prices in Pakistan to Return to July 2023 Levels

    0 shares
    Share 0 Tweet 0
  • Pakistan Central Bank Issued Show Cause Notice to Eight Banks Over Currency Speculation

    0 shares
    Share 0 Tweet 0

Categories

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology
AUGAF Logo

Follow us on social media:

Recent News

  • BYD Beats Tesla in Europe for the First Time With 169% Surge
  • Oil Prices Fall More Than 1% on Potential Further Increase to OPEC+ Output
  • SECP Warns Against Online Investment Platforms Including Interactive Broker

Category

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology

Recent News

BYD’s Supply Chain Financing Masks Ballooning Debt, Research Firm Says

BYD Beats Tesla in Europe for the First Time With 169% Surge

May 22, 2025
Saudi Arabia Eyes $600 Billion Investment In Petrochemical Sector

Oil Prices Fall More Than 1% on Potential Further Increase to OPEC+ Output

May 22, 2025
  • Home
  • Politics
  • News
  • Business
  • National
  • Finance
  • Technology
  • International

© 2021 AUGAF.

No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • Commodities
  • Contact

© 2021 AUGAF.