Oil prices went down on Tuesday as the market was pressured by a strengthening U.S. dollar.
The dollar has risen drastically as the recent financial crisis in Turkey has weighed on the euro, the Turkish lira and other emerging market currencies.
Market anxiety about European banks' exposure to Turkey has hit the euro severely. The shared currency plunged to its 13-month lows against the dollar in late trading on Tuesday.
The dollar index, which measures the greenback against six major peers, rose 0.35 percent at 96.738 in late trading, a 13-month high.
Oil prices decreased as a stronger dollar made the dollar-priced oil less attractive for holders of other currencies.
The West Texas Intermediate for September delivery was down 0.16 U.S. dollar to settle at 67.04 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery decreased 0.15 dollar to close at 72.46 dollars a barrel on the London ICE Futures Exchange.
Sources:cctvplus
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