U.S. West Texas Intermediate crude oil traded lower on Thursday as the U.S. Dollar soared on hawkish comments from a widely followed Federal Reserve member. Prices were already trading lower as supply disruption worries eased while rising numbers of COVID-19 cases in China added to worries over demand in the world’s largest crude importer.
Demand Pressured by Stronger US Dollar Yields rose sharply on Thursday following comments from key Fed speakers on inflation and the pace of further interest rate hikes from the central bank. St. Louis…WTI Drops To $80 As Bearish Momentum Grows
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