Oil prices fall on stronger U.S. dollar
Xinhua,February 06, 2018 Adjust font size:
NEW YORK, Feb. 5 (Xinhua) -- Oil prices declined on Monday as a stronger U.S. dollar made the dollar-priced commodity less attractive for holders of other currencies.
The U.S. dollar jumped against most major currencies on Friday as investors continued to digest the country's nonfarm jobs report came out better than expected.
U.S. total nonfarm payroll employment increased by 200,000 in January, beating market consensus of 175,000, and the unemployment rate was unchanged at 4.1 percent, the Labor Department reported Friday.
The dollar index, which measures the greenback against six major peers, increased 0.43 percent at 89.575 in late trading.
The West Texas Intermediate for March delivery decreased 1.3 U.S. dollar to settle at 64.15 dollars a barrel on the New York Mercantile Exchange, while Brent crude for April delivery lost 0.96 dollars to close at 67.62 dollars a barrel on the London ICE Futures Exchange. Enditem