Oil prices were lower today falling for a third consecutive week. Prices were lower on a stronger dollar and economic fears in the US and Canada. “Lack of confidence in the economy is translating to a retreat to the safer dollar, and is also causing pessimism about oil demand,” said John Kilduff, partner at Again Capital LLC in New York. Putting the markets even more on edge, Fed Governor Michelle Bowman talked about raising rates further if inflation stays high. China’s consumer price data rose at a slower pace in April than in March, missing expectations. WTI traded down $0.83 or -1.2% to close at $70.04. Brent traded down $0.81 or -1.1% to close at $74.17.<\/p>\n\n\n\n
Oil prices were lower today falling for a third consecutive week. Prices were lower on a stronger dollar <\/p>\n","protected":false},"author":2,"featured_media":9556,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-9511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n