Oil prices fell during the end of trading, on Thursday, despite the weakness of the dollar after the disclosure of key US inflation data.
The dollar suffered sharp losses this week, with the focus largely shifting towards the upcoming inflation data for the Consumer Price Index for more signals on US interest rates.
Despite the dollar’s decline, Brent oil futures for September fell by 0.15% to $84.94 per barrel, while West Texas Intermediate crude futures fell by 0.23% to $81.92 per barrel.
Meanwhile, the U.S. Department of Labor’s Bureau of Labor Statistics reported on Thursday that the consumer price index, a broad measure of the costs of goods and services, slowed on a monthly and annual basis for June data, with both the annual and monthly increases coming in below expectations and below May data.
Source: National Iraqi News Agency