Financial Insights

Oil falls on higher dollar in volatile week

US West Texas Intermediate (WTI) crude oil futures fell 26 cents (0.3%) at 0128 GMT to $ 81.33 a barrel, reversing Thursday’s 25 cent gain.

Crude oil prices fell on Friday, canceling the rise from the previous session as the dollar continued to rise in a bet on the US Central Bank to advance a rate hike plan to curb inflation.

OPEC, Russia, and their allies (collectively OPEC +) last week agreed to stick to their plan to bring 400,000 barrels to market each month.

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