Oil slumps on economic data, stronger U.S. dollar

Brent crude futures settled at US$82.17 a barrel, shedding 67 cents, or 0.8%. West Texas Intermediate crude (WTI) settled at US$75.88 a barrel, down 53 cents, or 0.7%. — Reuters

NEW YORK: Oil prices settled lower on Thursday as US industrial-linked factory orders dipped, while the dollar strengthened, making crude more expensive for non-American buyers.

Brent crude futures settled at US$82.17 a barrel, shedding 67 cents, or 0.8%. West Texas Intermediate crude (WTI) settled at US$75.88 a barrel, down 53 cents, or 0.7%.