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Oil prices fell on Friday, under pressure from a strong dollar, but activity was low after the US Thanksgiving holiday and with many traders reluctant to take big new positions ahead of a planned Opec-led crude output cut to be decided next week. International Brent crude oil futures were trading at $48.57 early on Friday, down 43 cents, or 0.9%, from their last close. US West Texas Intermediate crude futures were at $47.59 per barrel, down 37 cents, or 0.8%, from their last settlement. Traders said the main drag on prices on Friday was the strong dollar, which this month hit levels last seen in 2003 against a basket of other leading currencies.
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Oil prices fell on Friday, under pressure from a strong dollar, but activity was low after the US Thanksgiving holiday and with many traders reluctant to take big new positions ahead of a planned Opec-led crude output cut to be decided next week. International Brent crude oil futures were trading at $48.57 early on Friday, down 43 cents, or 0.9%, from their last close. US West Texas Intermediate crude futures were at $47.59 per barrel, down 37 cents, or 0.8%, from their last settlement. Traders said the main drag on prices on Friday was the strong dollar, which this month hit levels last seen in 2003 against a basket of other leading currencies.
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