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Oil prices retreat on stronger dollar

Xinhua, April 22, 2016 Adjust font size:

Oil prices dipped Thursday as the U.S. dollar appreciated against other currencies, making the dollar-priced crude more expensive and less attractive for buyers holding other currencies.

The West Texas Intermediate for June delivery moved down 1 U.S. dollar to settle at 43.18 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery decreased 1.27 dollars to close at 44.53 dollars a barrel on the London ICE Future Exchange. Endit