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Oil prices retreat on stronger dollar

Oil prices retreat on stronger dollar

New York, April 22 (IANS) Oil prices dipped on Thursday as the US dollar appreciated against other currencies, making the dollar-priced crude more expensive and less attractive for buyers holding other currencies.

The West Texas Intermediate for June delivery moved down $1 to settle at $43.18 a barrel on the New York Mercantile Exchange, while Brent crude for June delivery decreased $1.27 to close at $44.53 a barrel on the London ICE Future Exchange.

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Oil prices retreat on stronger dollar

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