Global oil prices settled lower Friday for a third day in a row as the US dollar rose to the highest level in more than a month in the wake of the move by the Fed to pencil in three possible rate cuts this year, dovish remarks from the Bank of England and the surprise rate cut from the Swiss National Bank.
After falling for the first three days of the week, oil prices have started to recover after both the Federal Reserve and Bank of England decided not to hike interest rates.