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2014-10-30 19:00:00

U.S. OIL PRICES

U.S. OIL PRICES

West Texas Intermediate oil fell after the Federal Reserve ended its asset-purchase program and U.S. crude production surged to the highest level since the 1980s. Brent declined in London.

Futures slipped as much as 1.6 percent in New York. The dollar strengthened a second day against the euro after the Fed's announcement, curbing the appeal of commodities priced in the U.S. currency as a store of value. U.S. crude supplies rose for a fourth week as output increased to 8.97 million barrels a day, Energy Information Administration data showed yesterday.

"Yesterday's Fed announcement is pushing the dollar higher,…

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Tags: U.S., OIL, PRICES, BRENT, WTI, OPEC,
Chronicle:
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