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Stronger US dollar weighs on Oil prices
Global oil prices settled lower Friday for a third day in a row as the US dollar rose to the highest level in more than a month in the wake of the move by the Fed to pencil in three possible rate cuts this year, dovish remarks from the Bank of England and the surprise rate cut from the Swiss National Bank. The firmer dollar capped oil, gold and other commodity prices as the ICE dollar index pushed to a month high following the Federal Reserve's decision this week to keep interest rates at a 23-year high while forecasting 75 basis points of cuts this year. The index was last seen up 1.01 points to 104.45. WTI crude ... (full story)