Oil futures fall as much as 2% on dollar advance - MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures fell by as much as 2% Monday, tracking a broad decline among commodities as the dollar climbed following Japanese intervention in the currency markets to stem the rise of the yen.

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USDJPY +3.0690% , which measures the greenback against a basket of six other currencies, climbed to 76.022, up from 75.063 late Friday. A stronger dollar tends to weigh on demand for oil and other commodities.

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The dollar’s gains came after Finance Minister Jun Azumi said that the Bank of Japan intervened in the currency markets for the first time since August, according to reports from the region. Read more on reported intervention.

Oil futures fall as much as 2% on dollar advance - MarketWatch