[ARABNEWS] Oil prices fell on Monday, hit by a strengthening dollar as dealers digested global manufacturing data for clues about demand growth, analysts said.Brent North Sea crude for delivery in December slid 42 cents to stand at $85.44 a barrel in late London deals.
US benchmark West Texas Intermediate (WTI) for December lost 43 cents to $80.11 a barrel compared with Friday's closing level.
Crude oil futures had risen slightly earlier in the day.
"The focus right now is on the manufacturing data.... We are looking for signs of industrial growth, which will in turn mean greater crude demand," Daniel Ang, investment analyst at Phillip Futures brokers said.
The US manufacturing sector picked up speed in October after a dull September, with companies reporting rising orders and more job creation, but a significant slowdown in price gains, according to data released on Monday. |