Oil heads for third monthly decline as strong dollar, ample supply weigh

Core Viewpoint - Oil prices are experiencing a decline, marking a potential third consecutive monthly decrease, influenced by a stronger dollar and increased supply from major producers globally [1] Group 1: Oil Prices - Oil prices eased on Friday, indicating a downward trend [1] - The decline in oil prices is attributed to a stronger dollar, which limits gains in commodities [1] - This marks the potential for a third straight monthly decline in oil prices [1] Group 2: Supply Dynamics - Rising supply from major producers is offsetting the impact of Western sanctions [1] - Increased production levels from these producers are contributing to the overall supply in the market [1]