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Oil prices dip on stronger dollar

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices dipped on Friday as the U.S. dollar strengthened, although OPEC-led supply cuts are seen supporting markets going into next year.U.S. West Texas Intermediate (WTI) crude futures were at $56.64 a barrel at 0108 GMT, down 5 cents from their last settlement.Brent crude futures , the international benchmark for oil prices, were down 11 cents at $62.09 a barrel.Traders said the slightly lower prices were mainly due to the stronger dollar, which has gained 0.8 percent this month against a basket of other leading currencies. A stronger greenback ...

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First Published: Fri, December 08 2017. 06:53 IST
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