WTI crude oil tumbled below $50 yesterday due to higher global oil supply, the prospect of more Iranian crude for export and a strengthening dollar combined to pressure prices. U.S. crude stockpiles are still at 461.4 million, its highest level at this point of the year in at least 80 years. Oil prices extended its recent downturn as U.S dollar rose to fresh three month high. Brent oil also slumped to $56.33 on Monday, the lowest since July 7, before closing at $56.65 amid concerns a resumption of Iranian oil exports will add to a global glut.
*American Dollar to Canadian Dollar = 0.744813
*American Dollar to Chinese Yuan = 0.153533
*American Dollar to Euro = 1.097125
*American Dollar to Japanese Yen = 0.008791
*American Dollar to Mexican Peso = 0.055936