Oil drops amid weak projections and strong Greenback

Note: This section contains information in English only.
Source: Reuters
Crude futures extend losses on Monday, as a global supply glut, the stronger US Dollar weighed on a poor outlook for the commodity. Futures for WTI fell 1.43% to $45.39, while contracts for Brent crude dropped 1.30% to $48.97 by 10:53 AM GMT. The trading volume may be thin on Monday due to the celebration of the Labour Day holiday in the US. Meanwhile, many experts slashed their projections for oil for this and next year.  
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