Crude oil prices continued to fall. They extended their losses from Friday after the U.S. dollar rose to a three-week high. The number of oil rigs that have resumed production are rising.
WTI crude futures fell 0.4%, or 30 cents, to $71.67/barrel (05:59 ET) after dropping 64 cents on Friday.
Brent crude oil fell 0.4%, or 27 cents, to $75.07 per barrel after falling 33 cents on Friday.
Crude oil prices fell, while the dollar rose to a three-week high after Friday’s rally. This was due to strong U.S. retail sales data. This raises expectations among investors that the Federal Reserve will start tapering bond purchases before the end of the year.
A stronger dollar makes dollar-denominated oil expensive for holders of other major currencies.
In addition, the increase in the U.S. rig count continued to drive oil prices lower. The oil and gas rig count rose by 9 to 512 in the week ended September 17, the highest level since April 2020 and twice as high as at this time in 2020.
The Spot Market is Open
Monday, September 20, 2021
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 12.18 | 1,749.40 1,750.40 | -4.40 -0.25% | 1,742.60 1,756.30 |
| Silver 12.18 | 22.29 22.39 | -0.07 -0.31% | 22.03 22.50 |
| Platinum 12.18 | 914.00 924.00 | -20.00 -2.14% | 902.00 947.00 |
| Palladium 12.18 | 1,880.00 2,030.00 | -70.00 -3.59% | 1,864.00 2,110.00 |
| Rhodium 10.22 | 11,600.00 13,600.00 | -300.00 -2.52% | 11,600.00 13,900.00 |
| Energy Updated at | Price | Change | %Change |
| Crude oil 12.18 | 71.34 | -0.63 | -0.88% |