Reuters | Oil down over 2 percent as dollar soars on US rate hike fears Reuters Fear that the U.S. Federal Reserve may raise rates by next month prompted investors to cash out of long positions in Brent and U.S. crude's West Texas Intermediate (WTI) futures that rallied earlier in the week on oil supply outages. "Petroleum prices ... Oil price takes big hit as dollar fears realised Oil prices tumble on dollar strength, jump in US inventories Oil Falls While Dollar Gains as U.S. Rate Boost Seen More Likely |