• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Oil down on stronger greenback, rising U.S. rig count

September 20, 2021 by David Barret Leave a Comment

September 20, 2021

MELBOURNE (Reuters) – Oil prices fell on Monday, extending losses from Friday after the U.S. dollar jumped to a three-week high and the U.S. rig count rose, although nearly a quarter of U.S. Gulf of Mexico output remained offline in the wake of two hurricanes.

U.S. West Texas Intermediate (WTI) crude futures fell 30 cents, or 0.4%, to $71.67 a barrel at 0059 GMT, after declining by 64 cents on Friday.

Brent crude futures fell 27 cents, or 0.4%, to $75.07 a barrel after losing 33 cents on Friday.

Oil fell with the greenback near a three-week high following a rally on Friday on better-than-expected U.S. retail sales data. That bolstered expectations the U.S. Federal Reserve will begin reducing asset purchases later this year.

“WTI crude may consolidate over the next few trading sessions until the trajectory of the dollar is a little clearer,” OANDA analyst Edward Moya said in a note.

A stronger greenback makes U.S. dollar-priced oil more expensive for holders of other currencies, curtailing demand.

A rise in the U.S. rig count also kept a lid on oil prices. The oil and gas rig count rose by nine to 512 in the week to Sept. 17, its highest since April 2020 and double the level from this time last year, Baker Hughes said on Friday.

As of Friday, 23% of U.S. Gulf of Mexico crude output, or 422,078 barrels per day, remained shut, the Bureau of Safety and Environmental Enforcement reported.

(Reporting by Sonali Paul; Editing by Tom Hogue)

Source Link Oil down on stronger greenback, rising U.S. rig count

David Barret
David Barret

Related posts:

  1. U.S. offshore oil recovery begins with ports, refineries restarting
  2. Tennis-Zverev advances to fourth round after Sock retires
  3. Cuban leader visits Mexico for new Latin America ‘pink tide’ summit
  4. USMNT drops out of top 10 in world rankings; L.A. opens 2026 bid

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Two Black Holes Circling Each Other Captured In Image For The Very First Time
  • Rapa Nui’s Famous Moai Statues Really “Walked” – Physics Confirms It
  • Could Dogs Be Taught To Talk With Language? This Lab Wants To Find Out
  • SETI Paper Responds To Claims Interstellar Object 3I/ATLAS Might Be An Alien Spacecraft
  • Rare Chance To See “Pink Meanie” Jellyfish With 20-Meter Tentacles Blooming Off Texas
  • Stranded Dolphins’ Brains Show Signs Of Alzheimer’s-Like Disease
  • Natural Sweetener Stevia Could Help Bolster Common Hair Loss Treatment
  • “Dig Deep, And Persevere”: Number 16, The World’s Longest-Lived Spider, Died Aged 43
  • IFLScience The Big Questions: What Is Time And How Do We Measure It?
  • Marty Goddard: The History Of The Sexual Assault Kit
  • What’s Really Lurking In The Deep Dark Waters Of Loch Ness?
  • Another Comet 3I/ATLAS Record Got Us Asking: How Do We Know An Object Is Interstellar?
  • Scientists Read The Shells Of Clams That Live For 500 Years, And They Tell A Troubling Story
  • New Blood Test Offers Potential For “Simple, Accurate” ME/CFS Diagnosis, Researchers Claim – Other Experts Aren’t So Sure
  • In 1927, A Physicist Conducted A Mass Psychic Experiment Involving 25,000 People
  • Check Out This “Truly Exceptional” Fossil Of A Two-Headed Reptile That Lived 125 Million Years Ago
  • Longest Woolly Rhino Horn Ever Recovered Just Popped Out Of The Siberian Permafrost
  • Deer Can Learn Commands Like “Come”, But The Most Restless Ones In Class Take Longer To Learn
  • Is This Evidence Of The “Oldest Human Habit”? A New Study Has Different Ideas
  • Winds On Mars Are Faster Than Thought, Analysis Of 1,039 Dust Devils Shows
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version