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Singapore (dpa) - Oil prices have continued to decline at the end of a loss-making week.
A barrel (159 liters) of Brent North Sea oil cost $ 62.60 on Friday morning.
That was 68 cents less than the day before.
The price of a barrel of West Texas Intermediate (WTI) branded American crude fell 66 cents to $ 59.34.
Oil prices have come under considerable pressure this week, but before that they had risen sharply due to economic hopes.
With losses of almost seven dollars each since Monday, prices are roughly at the level of early March.
One reason for the price discounts is the rising dollar exchange rate, which makes crude oil more expensive for investors outside the dollar area and depresses the demand from there.
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The strategy of the Opec + oil network is thus shaken.
The producing countries have been trying for a long time to keep oil prices under control by reducing production.
This has worked quite well so far, especially since the economic outlook has brightened with increasing corona vaccinations.
The rising dollar is now throwing a line through the bill for the oil network.
© dpa-infocom, dpa: 210319-99-885209 / 2