Oil prices retreat on stronger dollar

Oil prices dipped on Thursday as the US dollar appreciated against other currencies, making the dollar-priced crude more expensive and less attractive for buyers holding other currencies.

The West Texas Intermediate for June delivery moved down $1 to settle at $43.18 a barrel on the New York Mercantile Exchange, while Brent crude for June delivery decreased $1.27 to close at $44.53 a barrel on the London ICE Future Exchange.

--IANS

ahm/