Oil prices were lower today trading in a narrow range as the dollar briefly climbed to a six-week peak. US jobs data also suggested that the jobs market remained robust. “Oil prices are very choppy at the moment, with traders having a lot to take in,” OANDA analyst Craig Erlam said in a note, pointing to Russia’s 500,000 barrel-per-day cut to oil production in March, a strong Chinese economic recovery and an uncertain global economic outlook. Federal Reserve Bank of Cleveland President Loretta Mester said the central bank could become more aggressive with rate rises if inflation surprises to the upside. WTI traded down $.10 to close at $78.49. Brent traded down $.24 to close at $85.14.<\/p>\n\n\n\n
Oil prices were lower today trading in a narrow range as the dollar briefly climbed to a six week peak<\/p>\n","protected":false},"author":2,"featured_media":8776,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n