Oil Prices Decline

On Monday evening, oil prices began to decrease against the backdrop of the strengthening US dollar. This was reported by Интерфакс.

As of 18:17 Moscow time (19:17 Yerevan time), March futures for Brent crude on the London ICE Futures exchange had dropped by $1.27 (1.52%), reaching $82.28 per barrel. Meanwhile, March futures for WTI crude on the NYMEX exchange fell by $1.26 (1.62%), reaching $76.75 per barrel.

The DXY index, which reflects the value of the US dollar against a basket of six major world currencies, increased by 0.3% during trading on Monday, reducing the allure of dollar-denominated commodities.