Home » Business » International Oil Prices Reach Highest Level since April: US CPI Data and Dollar Index Analysis

International Oil Prices Reach Highest Level since April: US CPI Data and Dollar Index Analysis

[국제유가 4월 이후 최고치<사진=연합뉴스>] International oil prices closed at the highest level since the end of April.

At the New York Mercantile Exchange on the 13th local time, the price of West Texas Intermediate (WTI) for August delivery finished trading at 76 dollars and 89 cents per barrel, up 1.14 dollars from the battlefield.

The reason why this type of oil showed an upward trend was that the US consumer price index (CPI) fell below expectations recently, suggesting that US tightening concerns had eased.

The June Producer Price Index (PPI), which was also announced, also rose 0.1% from the same month last year, but fell to the lowest level since August 2020, causing the value of the dollar and government bond yields to decline.

The ICE Dollar Index, which shows the value of the dollar against six major currencies, fell below 100 for the first time since April of last year, raising expectations that July will be the last time the Federal Reserve will raise interest rates.

2023-07-13 21:50:00
#International #oil #prices #close #highest #level #April.. #Expectations #easing #inflation #concerns #Seoul #Media #Foundation #TBS

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.