Oil Prices Slip as Saudi Exports Surge

摘要

Oil prices slipped on Monday as a rallying dollar and concerns about growing oversupply weighed on the market after Saudi Arabia reported its highest crude exports in nearly decade. Crude oil futures turned lower after initially gaining more than $1 per barrel on worries turmoil in the Mideast after a major advance by Islamic State militants in Iraq and renewed airstrikes by a Saudi-led coalition against Houthi militias in Yemen. The dollar rose more than 1% against a basket of major currencies, the most in three weeks. The 19-commodity, oil-dominated Thomson Reuters/Core Commodity CRB Index fell 0.3% as the stronger dollar made raw materials denominated in the greenback less affordable to holders of the euro and other currencies.