Oil Falls As Dollar Strengthens (SCO, DBO)

Oil fell in trading today as the U.S. dollar strengthened against the Japanese yen and euro. Prices also fell on expectations that U.S. crude inventories increased in the last week. U.S. crude oil for delivery in June fell by $1.10 to $85.09 a barrel, while the Brent crude in London fell by $1.07 to $87.87. Meanwhile, the ProShares UltraShort DJ-UBS Crude Oil (ETF) (NYSE: SCO) is up by 1.81% to $11.24 in pre-market trading in New York today. Earlier, on Monday, the PowerShares DB Oil Fund (ETF) (NYSE: DBO) closed 1.02% higher at $29.83 in trading in New York.