Oil hovers near $74 in Asia as investors eye volatile US dollar
Oil prices hover near $74 a barrel in Asia after a strengthening US dollar helped trigger a four-day sell-off to two-month lows
Singapore: Oil prices are hovering near $74 a barrel in Asia after a strengthening US dollar helped trigger a four-day sell-off to two-month lows.
Benchmark crude for January delivery was up 13 cents Tuesday to $74.06 at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell $1.54 to settle at $73.93 on Monday.
In other Nymex trading in January contracts, heating oil was steady at $1.96 while gasoline rose 0.54 cent to $1.96. Natural gas jumped 4.6 cents to $5.02 per 1,000 cubic feet.
In London, Brent crude for January delivery rose 23 cents to $76.66 on the ICE Futures exchange.
