As the dollar begins to rebound, we are starting to see an ease in oil prices. Crude production is anticipated to increase.
Reuters reported, “The dollar rose against other major currencies, buoyed by the rise in short-term U.S. government bond yields their highest in over nine years and ahead of the release of the minutes of the Federal Reserve’s most recent policy-setting meeting, which may signal the pace of any interest-rate rises.
U.S. inventory data is due later in the day and stocks are expected to have risen by 1.3 million barrels in the week to Feb. 16, according to a Reuters poll.
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