Dollar Strengthens, Oil Tumbles – 14 August, 2017
As the Dollar strengthened this week after a sharp drop in oil prices on Monday by 2.5 percent. by Tuesday, prices steadied and crude is up 13 cents to %50.86. For China, the worlds second largest consumer of oil, concerns grew due to a typical drop in demand for countries paying with other currencies when the Dollar is strong. This July, oil refineries in China were at their lowest daily operating rate since September.