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Oil Down 3% as US Drillers Add rigs, Strong Dollar Weighs

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NEW YORK, June 10 (Reuters) - Oil prices settled down 3 percent on Friday after data showing the U.S. oil drilling rig count rising for a second week in row and a stronger dollar weighed on demand for greenback-denominated crude futures.


A slide of more than 1 percent in Wall Street share prices , the largest since April, also prompted pre-weekend profit-taking in Brent and U.S. crude futures, which had rallied earlier in the week.


The dollar jumped its most in nearly two months, rising 0.7 percent, as jittery global financial markets sent investors towards safe haven currencies.


http://www.downstreamtoday.com/news/article.aspx?a_id=52514


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