Lower Equities, Stronger Dollar Push Nymex Crude to 8.8% Loss

摘要

A day before expiration, the May oil contract on the Nymex lost 8.8% on Monday in line with dropping equity markets, which are a barometer for overall economic health, traders said. The oil price was also hammered by a strengthening US dollar, which rallied on expectations that the European Central Bank may lower interest rates.