Oil prices dipped on Wednesday as a soaring dollar made barrels more expensive and Europe’s biggest economy Germany was speeding up plans to wean itself off Russian oil while coronavirus outbreaks clouded China’s economic outlook.
Erasing earlier gains, Brent crude futures dipped 54 cents, or 0.5 percent, to $104.45 a barrel by 1259 GMT. U.S. West Texas Intermediate crude futures dropped 79 cents, or 0.8 percent, to $100.91 a barrel.
