Oil drops on stronger dollar, warmer weather forecasts

Oil prices edged lower on Tuesday as cooling expectations of interest rate cuts pushed the dollar to a one-month high and forecasters predicted weather in U.S. production hubs will turn warmer-than-normal later this month.

Read more here: https://www.reuters.com/business/energy/oil-ticks-up-middle-east-crisis-escalates-tankers-divert-2024-01-16/