West TX Oil Remains Below $83 on Strong U.S. Dollar

U.S. crude futures edged below $82 a barrel on Thursday in early Asian trade, pressured by a strong dollar and a supply glut, following overnight gains on the back of a less-than-expected rise in U.S. oil stockpiles.

NYMEX crude for December delivery was down 32 cents at $81.88 a barrel by 0004 GMT, after settling up 78 cents at $82.20 on Wednesday.

The market has regained some ground after hitting a more than two-year low of $79.44 on Monday following Goldman Sachs’ cut in its price forecast due to higher projected supplies.

CNBC

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