Oil Set For Third Consecutive Week Of Losses

Oil prices fell early on Friday and were headed for a third consecutive week of losses, as the U.S. dollar strengthened and the market continues to guess whether the Biden Administration will act now to try to bring down high gasoline prices. As of 9:55 a.m. EST, WTI Crude was trading down 1.21% at $80.60 and Brent Crude had fallen by 0.93% to $82.10. Oil prices were weighed down by a rise in the U.S. dollar as some investors now see the Fed raising interest rates as early as next year to tame inflation. A stronger greenback makes oil buying more…