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Crude oil prices dip on oversupply concerns and stronger dollar
June 10, 2020
Source: Reuters

Crude oil prices dip on oversupply concerns and stronger dollar

Oil prices fell on Tuesday, weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts. Brent crude was down 1.3%, at $40.28 a barrel. WTI crude fell 0.7%, to $37.92. A "slightly stronger U.S. dollar ... is weighing on crude prices," said UBS analyst Giovanni Staunovo.

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