Key Currency Exchange Rates for Friday, 5/31/24

The former frontman of the heavy metal band Black Sabbath died on Tuesday at the age of 76. Ozzy Osbourne, legendary frontman of the English band Black Sabbath, singer-songwriter, and TV personality, died on Tuesday at the age of 76. A pioneer of heavy metal music, Osbourne leaves behind a musical legacy spanning more than five decades. BMG manages the classic Black Sabbath song catalog outside North America.

“Prices are being driven up by tight supply due to high production outages in Venezuela plus the cuts implemented by OPEC and Russia,” said Carsten Fritsch, analyst at Commerzbank. “What is more, demand appears robust.” The United States has until May 12 to decide whether to quit a nuclear deal with Iran and reimpose sanctions against the third-largest producer in the Organization of the Petroleum Exporting Countries, tightening global supplies. OPEC’s supply curtailments and the threat of new sanctions are occurring as demand in Asia, the biggest oil-consuming region, has risen to a record. Click Read More below for additional information.

American Dollar to Canadian Dollar = 0.824625; American Dollar to Chinese Yuan = 0.155365; American Dollar to Euro = 1.212374; American Dollar to Japanese Yen = 0.009151; American Dollar to Mexican Peso = 0.050486.