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Stock impact report

Oil pulls back from multi-month highs as strong dollar dents demand [CNBC]

StoneX Group Inc. (SNEX) 
Company Research Source: CNBC
Brent crude futures for May delivery fell 19 cents, or 0.2%, to $87.19 a barrel by 0104 GMT. U.S. West Texas Intermediate futures for April delivery , which expire on Wednesday's settlement, fell 35 cents, or 0.4%, to $83.12 a barrel. Weighing on Asian buyer sentiment, the U.S. dollar index climbed higher for the fifth-straight session after recent data pointed to a resilient U.S. economy. A stronger dollar makes oil more expensive for investors holding other currencies, dampening demand. Both Brent and WTI settled at their highest levels since late October in the previous session as market participants assessed the impact on crude and petroleum supplies from Ukrainian drone attacks on Russian refineries. A drop in Russian refining capacity as a result of the strikes has led to an increase in crude oil exports from the country, trade sources told Reuters on Tuesday. Oil exports from Russia's western ports will increase by almost 260,000 barrels per day in March over an initial Show less Read more
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