American Expatriate Costa Rica

Oil falls due to excess production and dollar strength

Oil fell on Monday at the end of European trading due to a stronger dollar and signs of excess oil production.

At about 5 p.m. (11 a.m. Costa Rica time), a barrel of Brent North Sea to be delivered in January was worth $ 43.60 in the Intercontinental Exchange (ICE) in London, $ 1.15 less than on Friday and the lowest level in three months.

On the New York Mercantile Exchange (NYMEX), a barrel of “light sweet crude” (WTI) for December delivery lost $ 1.14, reaching $42.27, also its lowest level in three months.

crhoy.com