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Strong US Dollar Index Weighs on Crude Oil Futures

Gordon Kristopher
Strong US Dollar Index Weighs on Crude Oil Futures

The US Dollar Index rose ~0.6% to 92.4 on May 1. The index is near the highest level since January 9. June WTI crude oil futures decreased ~1.9% on May 1. The strong US Dollar Index pressured crude oil prices on the same day.