anz bank

Oil below $118 a barrel as supply concerns ease

Topix - Business News  Tue, 04/29/2008 - 19:23

"We're seeing a little bit of ... selling on the back of a firmer U.S. dollar and concerns that the dollar will maybe rebound mildly in the short term"

Oil prices fell Tuesday amid expectations that a supply disruption in the U.K. would soon be resolved and as the U.S. dollar strengthened further against the euro.