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NEW YORK， June 15 (Xinhua) -- Oil prices fell on Thursday as a stronger dollar curbed investors' commodity appetite.
Oil prices were under pressure after the U.S. Federal Reserve decided to keep interest rates unchanged on Wednesday but signaled that it plans two more interest increases later this year. The greenback rose against most major currencies on Thursday.
A stronger U.S. dollar weighed on investor sentiment， which made the dollar-denominated oil less attractive for holders of other currencies.
In the previous session， the Energy Information Administration (EIA) said in its weekly report that U.S. crude supplies of last week lost 0.9 million barrels to 531.5 million barrels.
Analysts said the report was actually bullish but the market was still trading lower， which showed investors were reluctant to buy with prices near 50 U.S. dollars a barrel.
The West Texas Intermediate for July delivery lost 1.80 U.S. dollars to settle at 46.21 U.S. dollars a barrel on the New York Mercantile Exchange， while Brent crude for August delivery decreased 1.78 U.S. dollars to close at 47.19 dollars a barrel on the London ICE Futures Exchange. Enditem
The Brooklyn Nets view connecting with the city's growing Chinese community as a good business move.
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The annual event is co-hosted by the Sino-American Friendship Association (SAFA).
For several years, the two organizations have been working together to introduce Chinese culture to the National Basketball Association.
Li Li, SAFA's executive vice-president, said the organization began its relationship with the Nets in 2008, when a Chinese player name Yi Jianlian was still with the team. The Nets played in New Jersey at the time.
"When Yi Jianlian was with the team, we started the conversation about how to support the team and get it to reach out more to the Chinese community vans old skool pas cher ," Li said. "This is the seventh year that we've done an annual celebration of Chinese culture.