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SINGAPORE – Oil prices lapse to nearby $98 a containerful weekday in Asia as the U.S. note strengthened, making commodities such as crude more expensive for investors with another currencies.

Benchmark crude for June conveying was downbound 53 cents to $98.44 a containerful at hour Singapore instance in electronic trading on the New royalty Mercantile Exchange. The lessen gained 76 cents to resolve at $98.97 on Thursday.

In London, Brent crude for June conveying was downbound 13 cents to $112.85 a containerful on the ICE Futures exchange.

Crude prices hit zigzagged nearby $100 for most of this week, generally chase the continuance of the dollar. When the note weakens — as it has most of this assemblage — lubricator tends to rise while it usually water when the note is stronger.

The euro lapse to $1.4198 on weekday from $1.4241 late Thursday.

"Oil is maintaining a tight reciprocity with the note for now," Ritterbusch and Associates said in a report. "Given whatever expected panoramic swings in the currencies ... surpassing lubricator toll volatility will probable rest uncastrated finished of this month."

Traders are also closely watching for signs higher render costs are crimping U.S. crude demand. The International Energy Agency on weekday revilement its estimate for orbicular obligation this assemblage by 190,000 barrels per day, noting that higher fuel prices in the U.S. appeared to be forcing Americans to revilement backwards on driving.

Some analysts expect obligation in nonindustrial economies to reenforce orbicular consumption.

"Overall, the orbicular obligation picture has not changed significantly," Barclays Capital said.

In another Nymex trading in June contracts, vaporisation lubricator added 3.7 cents to $2.94 a congius and fuel lapse 4.7 cents to $3.17 a gallon. Natural pedal futures were up 0.2 coin at $4.18 per 1,000 boxlike feet.

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