Crude falls for the first day in four as dollar rises

NEW YORK (MarketWatch) - Crude-oil futures dropped Friday for the first time in four days, retreating from a 5% rally in the previous session, as a stronger U.S. dollar pushed down dollar-denominated commodities prices. Crude for October delivery lost $1.74, or 1.4%, to $119.44 a barrel in early electronic trading on Globex. The contract jumped 4.9% to close above $121 Thursday. The dollar index [s:DXY], which tracks the value of the greenback against other major currencies, gained 0.7% to 76.61. A stronger greenback makes dollar-denominated commodities more expensive to buyers holding other currencies.
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Original post by Forextvblog

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