Oil declines and dollar stabilizes ahead of US elections
Oil prices fell more than 3% in Asian trading on Monday as markets await developments in talks on the war with Iran and the US elections. Brent crude dropped 3.2% to $109.75 per barrel, and West Texas Intermediate fell 3.3% to $100.69. The dollar held steady at 101.94 points.
Oil prices fell more than 3% in Asian trading on Monday as markets await developments in talks on the war with Iran and the US elections. Brent crude dropped 3.2% to $109.75 per barrel, and West Texas Intermediate fell 3.3% to $100.69, after strong gains last week. The dollar held steady against major currencies, recording 101.94 points, while the euro hovered near a 17-month low at $1.1159. The Japanese yen weakened 0.15% to 157.78 against the dollar. In the cryptocurrency market, Bitcoin and Ether saw slight gains after last week's losses following the Binance platform hack and theft of $6.3 billion in digital assets. The platform announced that withdrawals are beginning to stabilize.