Oil eases on strong dollar, global economic news

Brent futures fell 47 cents, or 0.6%, to settle at US$85.24 a barrel, while US West Texas Intermediate crude (WTI) ended 56 cents, or 0.7%, lower at US$80.73.

NEW YORK: Crude prices eased about 1% on Friday on worries that global oil demand growth could be hit by a strong US dollar and negative economic news from some parts of the world.

Prices declined despite signs of improving US oil demand and falling fuel inventories that helped boost crude prices to a seven-week high a day earlier.