U.S. crude prices fell since this morning, despite briefly rising due to a weaker dollar.
Oil prices have steadily increased since Tuesday afternoon, just after Federal Reserve Chairman Janet Yellen announced a careful approach to raising interest rates. Historically, a weaker dollar inflates oil prices, since crude is priced in dollars.
U.S. crude ended the day at $38.32 a barrel, making marginal gains despite falling this morning. And Brent Crude closed at $39.26 a barrel, up 12 cents.
Oil prices have grown by nearly 50% in the last two months after industry leaders considered freezing production after January’s highs.