Global Crude Prices Fall Sharply Amid a Stronger U.S. Dollar

Global crude prices fell sharply Friday amid a stronger U.S. dollar and investor concern that President Donald Trump's decision to leave the Paris Accord on climate change could spark increased drilling and production rates from American oil companies.

West Texas Intermediate crude futures for July delivery were marked 3% lower at $46.91 per barrel in early European trading while Brent crude contracts for the same month, the global benchmark, were seen 2.88% lower at $49.17 per barrel.

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Global Oil Prices Slump as Investors Bet Trump's Paris Accord Decision Will Increase U.S. Drilling

This article was written by a staff member of TheStreet.