AAA Daily Fuel Gauge Report for Friday, 6/17/22

American Dollar to Canadian Dollar = 0.737437; American Dollar to Chinese Yuan = 0.137407; American Dollar to Euro = 1.086299; American Dollar to Japanese Yen = 0.006878; American Dollar to Mexican Peso = 0.058532.

Futures dropped 1.7 percent in New York, snapping eight straight sessions of gains. Russia wants to continue with the current deal and any further supply curbs would send the wrong message to the market, according to government officials. The U.S. dollar gained, reducing the appeal of commodities denominated in that currency. While prices have surged during the past week, oil remains in a bear market after concerns that rising global supply will offset output cuts from the Organization of Petroleum Exporting Countries and its partners. Libya and Nigeria, exempt from the OPEC-led curbs, accounted for half of the group’s production boost last month, according to data compiled by Bloomberg. Click Read More below for more of the story.

Finnish Transport Workers’ Union AKT has begun their strike impacting all Finnish ports and terminals on 15.2. at 6 AM until further notice. The negotiating parties did not reach an agreement and negotiations will recommence later this week. All vessel operations in Finnish ports, gate moves and handling of containers within terminals are now suspended until further notice.