Oil prices fall 2.5 percent on strong dollar, weak China dataOil prices tumbled more than 2.5 percent on Monday in volatile trade, as dollar strength and weak domestic demand data in China hammered prices that had received a short-lived boost on concerns about potential reductions in crude supply from Libya. “It is a strong dollar, concern about China demand, and weak volumes,” said Phil Flynn, an analyst with Price Futures Group in Chicago. The absence of further abrasive rhetoric by U.S. President Donald Trump and North Korean leader Kim Jong Un over the weekend helped bring investors back to the dollar, analysts said.


Read More At Article Source | Article Attribution