Oil Drifts Lower for Second Day in a Row

Bloomberg reported that oil saw a second day of declines as the dollar’s strength against the euro increased and weaker earnings reports brought equities down.

As quoted in the market news:

Crude for November delivery dropped $1.19, or 1.3 percent, to $90.91 a barrel at 11:58 a.m. on the New York Mercantile Exchange. Earlier, prices touched $93.05, the highest level since Oct. 10. Futures have slipped 1 percent this week and are down 8 percent this year.

Brent for December settlement decreased $1.28, or 1.1 percent, to $111.14 a barrel on the London-based ICE Futures Europe exchange.

Click here to read the full Bloomberg report.