Oil prices head for weekly fall on surging U.S. dollar, soft China demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 15 2024
0mins
Source: MarketWatch
Oil Futures Decline: Oil futures are experiencing slight declines and are expected to end the week lower due to a surge in the U.S. dollar and ongoing concerns about demand from China, the largest crude importer.
Impact of U.S. Dollar: The ICE U.S. Dollar Index is set for a 1.5% weekly increase, reaching its highest level in a year, which negatively affects commodities priced in dollars by making them more expensive for users of other currencies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
