Oil prices slid on Monday amid a strong U.S. dollar, concerns over sanctions and ahead of key economic data by the U.S. Federal Reserve and U.S. payrolls later in the week.
Brent crude futures slid 21 cents, or 0.3%, to $76.3 a barrel by 0445 GMT after settling on Friday at its highest since Oct. 14.
U.S. West Texas Intermediate crude was down 19 cents, or 0.3%, at $73.77 a barrel after closing on Friday at its highest since Oct. 11.
Oil posted five-session gains previously with hopes of rising demand following colder weather in the Northern Hemisphere and more fiscal stimulus by China to revitalise its faltering economy.
However, the strength of the dollar is on investor’s radar, Priyanka Sachdeva, a senior market analyst at Phillip Nova, wrote in a report on Monday.
The dollar stayed close to a two-year peak on Monday, a stronger dollar makes it more expensive to buy the greenback-priced commodity and hence reins in pressure on oil.
