West TX Oil Below $94 as Dollar Strengthens

U.S. oil futures fell under $93 a barrel on Monday, giving back most of their gains from the previous session as the U.S. dollar strengthened.  U.S. crude for November delivery had fallen 57 cents to $92.97 a barrel by 0007 GMT, after finishing $1.01 higher on Friday on the back of strong U.S. economic data.

The U.S. economy grew at its fastest pace in 2-1/2 years in the second quarter, data showed on Friday, with all sectors contributing to the jump in output in a bullish signal for the remainder of the year.

Libya’s oil output has fallen by 25,000 barrels a day (bpd) to 900,000 bpd because of a strike at its Jalo oilfield, a spokesman for state-run National Oil Corp said on Sunday.

CNBC

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