Crude Declines as Dollar Rebound Curbs Investor Appetite for Oil
Is the Oil Rally Getting Long in the Tooth?
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Crude declined as the dollar rebounded from a four-month low, reducing the appeal of commodities priced in the U.S. currency.
Saudi Arabia shipped more crude in March than in any month since November 2005 while the kingdom’s output in the month was the highest since at least January 2002. Iranian Deputy Oil Minister Roknoddin Javadi said he’s “very optimistic” curbs against his nation will be lifted and that it can raise its crude output to pre-sanctions levels in as little as six months.