Top Business News

NEW YORK – Oil prices are dropping due to a stronger note and expectations that U.S. crude supplies are growing.

Benchmark West Texas Intermediate lubricator for June delivery slipped 97 cents to $112.55 per containerful on the New York Mercantile Exchange.

Crude dropped while the U.S. note gained versus other field currencies. Oil is priced in dollars, and it tends to start as the greenback rises and makes lubricator barrels more expensive to investors retentive foreign money.

Platts, the energy aggregation limb of McGraw-Hill Cos., said it expects U.S. lubricator supplies to hit grown terminal hebdomad by 1.7 million barrels. The government module promulgation its report on lubricator supplies on Wednesday.

Meanwhile, retail fuel increased to a domestic cipher of $3.976 per gallon.