Oil drops on dollar strength and OPEC+ supply expectations | Reuters
Oil prices fell on Friday as bond price rout led to gains in the U.S. dollar while crude supply is expected to rise in response to prices climbing above pre-pandemic levels.
Brent crude futures for April, which expire on Friday, fell 99 cents, or 1.4%, to $65.89 a barrel by 1203 GMT. The more actively traded May contract slipped by $1.19 to $64.92.
U.S. West Texas Intermediate (WTI) crude futures dropped $1.27, or 2%, to $62.26.
A sell-off in bond markets lifted the U.S. dollar, making dollar-priced oil more expensive for holders of other currencies.
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