Yellen’s remarks weighed on the dollar.
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Oil markets were roiled Monday after Tropical Storm Harvey wreaked havoc along the U.S. Gulf Coast over the weekend, hitting the heart of the U.S. oil and gas industry. The U.S. dollar dropped to its lowest in roughly 16 months against a basket of major currencies and a more than 2-1/2-year low against the euro, following comments from central bankers Friday and worries over the storm hurting the U.S. economy.Brent crude was down 1.6 percent at $51.55 a barrel, while U.S. crude was down 3.4 percent at $46.26 .The U.S. dollar extended its weakness from last week.The dollar index, which tracks the greenback against six major currencies, was down 0.51 percent at 92.269, after earlier falling to 92.252, its lowest since May 2016 .
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