(RTTNews) - The price of oil moved slightly lower Thursday morning, but remained relatively resilient in the face of US dollar strength and yesterday's unexpected build in crude stockpiles.
Crude for April was down $0.70 at $79.30 a barrel, having been unable to sustain above $80 in repeated attempts over the past week.
The dollar came within a whisker of a new 9-month peak versus the euro today, touching $1.3450.
Still, oil prices have found support amid a draw down in gasoline stockpiles. On Wednesday, Federal Reserve Chairman Ben Bernanke reiterated predictions that interest rates would remain extremely low for an extended period, generating renewed faith in US demand for energy products.
