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Oil slips as dollar strengthens amid mixed demand signals
Oil prices eased after an early advance as the dollar rose against the euro and Energy Department demand forecasts trimmed consumption. Spot gasoline hit a record 4.04 a gallon while MasterCard Spending Pulse showed a 3.8 percent weekly drop in gasoline demand. The IEA and Saudi output news provided mixed pressure, with the dollar seen as the dominant driver.
MENTIONED IN THIS ARTICLE
New York
Energy Department
U.S
International Energy Agency
China
New York Mercantile Exchange
MasterCard
Saudi Arabia
Jim Ritterbusch
Ritterbusch and Associates
Phil Flynn
Alaron Trading Corp
Chicago
Linda Anfield
Platts
McGraw-Hill Cos
IEA
May
Ritterbusch
Anfield