Oil retreats by glut before and the dollar


Low oil prices closed over one percent Monday, to cut two long rise, wave by wary of inflated produce middle and high dollar supported by speculation us interest rate at the end of the year.

Nigerian rebels pledge appeared to halt attacks on the oil industry enables it to increase exports of crude from Africa's largest producer, after several bombings of pipelines and other layoffs earlier this year.

In the Middle East, the Iraqi oil Minister said Saturday that his country will continue to increase production after it issued more crude from the southern ports in August.

Saudi Arabia has kept the biggest crude exporter in the world produced at record levels this month.

The dollar scored highest in three weeks against the yen strengthened after Janet Yellen head of the fed (us Central Bank) interest rate expectations soon at her word on Friday.

And it makes a high-dollar commodity prices denominated in the US currency more expensive to drive other currencies. And determine the settlement price of Brent on low 66 cents in the equivalent of 1.3 percent at $ 49.26 a barrel.


And us West Texas intermediate crude down 66 cents, or 1.4 percent, to close at $ 46.98.