(Reuters) Oil dropped 2% after two sessions of gains as jitters about the global economic outlook and a stronger dollar outweighed hopes of higher Chinese demand and expectations of a drop in U.S. crude inventories. Brent crude fell by $1.65, or 2%, to $81.08 a barrel by 1:00 p.m. ET. U.S. West Texas Intermediate crude dropped $1.51 to $77.23. The day before, both contracts rose by more than 1%. U.S. consumer confidence dropped to a nine-month low in April, feeding worries about a recession the day after regional lender First Republic (FRC.

https://www.bicmagazine.com/industry/commodities/oil-dips-2-percent-on-strong-dollar-economic-worries-outweigh-china-hopes/

#bicmagazine