Crude Oil Falls as Stronger Dollar Curbs Appeal of Commodities

Monday, October 12, 2009

Oil futures dropped from the highest close in 4 months as a stronger dollar reduced the appeal of commodities related investments.

Oil futures dropped as much as 3.4% on NYMEX after the US dollar surged almost 2% against the euro currency.

“The stronger dollar is bringing all of the commodities down” The Federal Reserve’s policies have become the major driver of the commodities.” Phil Flynn, trader at Alaron Trading Corp.

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