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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

RARE PHOTOS: Oil price dips as dollar strengthens demand weakens | Rare Historical Photos

Storage tanks are seen at Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil into California Air Resources Board (CARB) gasoline, CARB diesel fuel, and other petroleum products, in Carson, California, US, March 11, 2022. Picture taken with a drone. REUTERS/Bing Guan/File Photo

Oil prices retreated slightly on Thursday after gaining more than $3 in the prior session, with a strong dollar capping oil demand from buyers using other currencies and concerns over the faltering economic outlook clouding market sentiment.

Brent crude futures fell 41 cents, or 0.5%, to $88.91 per barrel by 0337 GMT while US crude futures dropped by 35 cents, or 0.4%, to $81.80.

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