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Oil slides, hits 6-month low as OPEC fails to curb glut

Reuters  |  NEW YORK 

By Julia SimonNEW YORK (Reuters) - Oil prices were down more than half a percent after hitting a six-month low on Thursday, remaining under pressure from high global inventories and fears that OPEC's agreed production cuts cannot offset rising production elsewhere.The dollar rose to its highest in more than two weeks, adding to the pressure on oil, as solid readings on the U.S. economy helped strengthen the case for the Federal Reserve to continue tightening monetary policy this year. A stronger dollar makes greenback-denominated oil more expensive for buyers in other currencies. [USD/]Saudi ...

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First Published: Thu, June 15 2017. 23:03 IST
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