日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Global General

Special

Newsmaker

Asia Pacific

America

Middle East

Europe

Africa

Oil falls below $70 on stronger dollar

(Xinhua)
Updated: 2009-09-22 04:21

NEW YORK: Crude oil prices plunged below $70 a barrel on Monday as the dollar strengthened against a basket of major currencies, reducing hedge appeal of commodities.

Related readings:  Commodity rally lifts share prices  Oil price holds key for electric autos  OPEC maintains oil output quota  World oil demand to resume growth in 2010: report  Oil shoots above $71 a barrel on weak dollar

Light, sweet crude for October delivery dropped %2.33, or 3.2 percent, to settle at %69.71 a barrel on the New York Mercantile Exchange. The contract earlier touched an intra-day low of $68.96 a barrel.

The dollar traded at a one-week high on Monday, giving crude a hit as the stronger currency undermined demand for dollar-priced oil, often used to hedge against inflation.

Meanwhile, Wall Street declined on rising concerns that equities had outpaced the outlook for economic growth, dragging oil prices lower.

In London, Brent Crude for November delivery fell $2.73 to $68.59 a barrel on the ICE Futures exchange.