December 18, 2015
Oil prices fell in futures in Asian trading on Thursday to continue bleeding sharp losses recorded by crude in the previous session after the Federal Reserve decided the US central bank to raise interest rates for the first time in nearly ten years and after official data showed an unexpected rise in US inventories .
And it dropped the price of WTI January delivery futures month maturity 12 cents to $ 35.40 a barrel at 0613 GMT, after trading ended on Wednesday to drop by about five percent.
The price of Brent crude for February delivery futures month maturity 29 cents to $ 37.10 a barrel, after falling global crude measurement of 3.3 percent in the previous session.
Said Rick Spooner, senior analyst at CMC Markets in Sydney Foundation 'we now see signs that the US dollar is growing stronger in our time, too.'
The dollar index has increased by about one percent to 98.772 against a basket of major currencies.
And it supports the dollar increase interest rates, which makes oil and commodities denominated in the US currency more expensive, undermining demand.
And it increased US oil inventories last week on higher imports into the Gulf Coast, according to the US Energy Information Administration showed on Wednesday, data which has surprised analysts who expected the January size stocks.
US Energy Information Administration data showed growth stocks 4.8 million barrels last week to near record levels, while the highest was Analysts polled by Reuters expect inventories to drop 1.4 million barrels