Libyan oil output cut by 200,000 bpd Stronger dollar weighs on prices (Updates prices)
LONDON, Jan 18 (Reuters) - Oil prices fell slightly on Monday as a stronger dollar, fears over soaring COVID-19 cases around the world and the slow pace of vaccination against the coronavirus outweighed a better-than-expected quarterly rebound for China’s economy.
Brent crude was down 23 cents, or 0.4%, at $54.87 per barrel at 1720 GMT, and West Texas Intermediate U.S. crude fell 19 cents, or 0.4%, to $52.17.
“Corona-induced economic fears, a stronger U.S. dollar and more pessimistic investor sentiment are all playing their part in the fact that Brent is trading . around $3 lower than last Wednesday,” said Commerzbank analyst Eugen Weinberg.
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Oil prices fell slightly on Monday as a stronger dollar, fears over soaring COVID-19 cases around the world and the slow pace of vaccination against the coronavirus outweighed a.
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