MELBOURNE : Oil prices fell on Monday, extending losses from Friday after the U.S. dollar jumped to a three-week high and the U.S. rig count rose, although nearly a quarter of U.S. Gulf of Mexico output remained offline in the wake of two hurricanes.
Brent crude futures fell 27 cents, or 0.4per cent, to US$75.07 a barrel after losing 33 cents on Friday. "WTI crude may consolidate over the next few trading sessions until the trajectory of the dollar is a little clearer," OANDA analyst Edward Moya said in a note.
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