Singapore-Sana
Crude oil prices fell today as the US dollar rose after the Federal Reserve hinted that it might raise interest rates faster than expected.
Reuters reported that Brent crude futures fell 42 cents, or 0.6 percent, to $73.97 a barrel, and US crude futures fell 42 cents, or 0.6 percent, to $71.73 a barrel.
The US dollar recorded its strongest daily gain in 15 months after the Federal Reserve hinted that it might raise interest rates faster than originally assumed.
The rise of the US dollar leads to an increase in the cost of oil priced in the US currency to holders of other currencies, which may put pressure on demand.
