London-Sana
Oil prices fell by more than two percent today, under the weight of expectations of a decline in global demand, along with the rise of the dollar, before a possible major interest rate hike.
Reuters reported that Brent crude for November delivery fell $1.90, or 2.1 percent, to $89.45 a barrel.
The price of US West Texas Intermediate crude for October delivery recorded a decline of 2.57 dollars, or three percent, to 82.54 dollars per barrel.
Central banks around the world are likely to raise interest rates this week and the Federal Reserve (the US central bank) may raise interest rates by a percentage point.
And the dollar settled close to its highest level in 20 years before the decisions expected this week by the Federal Reserve and other central banks.
The rise of the dollar increases the cost of priced commodities to holders of other currencies and thus affects oil and other risk-sensitive commodities.
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