Crude oil prices fell during trading on Tuesday, the second day in a row to its lowest level in a week, in the light of the high dollar levels which adversely affect the crude oil prices in light of the inverse relationship between them.
Traded futures US crude oil prices currently at $ 44.71 a barrel, after the session opened today at $ 45.19 a barrel comes before recording the highest at US $ 45.64 a barrel, while it may hit its lowest level at $ 44.67 a barrel.
Decline in crude oil prices during the trading day comes in light of the continued weak demand for crude oil in the financial markets because of the promise to make sure the accompanying Britain's exit from the European Union and their negative impact on economic growth performance.
This has seen a rise in the levels of the dollar during trading today in light of the continued concerns in the markets, which has increased the demand for the dollar, especially with the US housing sector data improved today, this works to increase the negative pressure on crude oil prices in light of the inverse relationship between them.
Trading the dollar index, which tracks the dollar's performance against a basket of major currencies, is currently at the level of 97.07, after the record lows at 96.53 and was opened today's trading at the level of 96.58, its highest level in four months at 97.15. This rise comes amid economic data from the United States improved, which increases the positive outlook on the US economy.
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