Jakarta, CNBC Indonesia – World oil prices have moved down this week. That way, the price of the black gold has fallen for three consecutive weeks.
This week, the price of Brent crude slashed 0.69% point-to-point. In weekend trading, Brent closed at US$ 82.17/barrel, its lowest since November 4.
While the light sweet type dropped 0.59% on a weekly basis. This weekend, the price of light sweet closed at US $ 80.79/barrel, also the lowest since November 4.
The strengthening of the exchange rate of the United States (US) dollar made oil unable to do much. These two assets do have an inverse relationship.
This is because oil is an asset that is priced in US dollars. When the US dollar is strong, oil becomes more expensive for investors holding other currencies. Demand for oil fell, prices followed.
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