NEW YORK: Oil prices fell 2% on Monday as investors grew more risk averse, which hurt stock markets and boosted the U.S. dollar, making oil more expensive for holders of other currencies
Brent crude fell US$1.42, or 1.9%, to settle at $73.92 a barrel after sinking to a session low of $73.52. U.S. West Texas Intermediate (WTI) declined $1.68, or 2.3%, to end at $70.29 after falling to as low as $69.86.
The dollar, seen as a safe haven, rose as worries about Chinese property developer Evergrande's solvency spooked equity markets and investors braced for the Federal Reserve to take another step toward tapering this week.
"As the U.S. dollar is usually a safe haven, its exchange rate against other currencies strengthens, a development that supplements tRead More »
Monday, 3 April 2017 : Running is a great workout, and it comes with all of the heart-strengthening benefits of aerobic exercise. But doing it for long distances—like in a marathon—may come with unintended health consequences. A small new study finds that marathon runners can experience short-term kidney injury after …Read More »