US West Texas Intermediate (WTI) and UK Brent crude oil benchmark prices posted sharp decreases in the week to Sept. 16, as several oil market forecasts now see the global glut persisting through 2016, with any chance of balance pushed back to later in 2017. The oil futures complex commenced the week by climbing on Monday, but rather than market strength the higher prices were largely attributed to a weaker US dollar. Prices for oil and other dollar-denominated commodities typically rise when the dollar falls.
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