NEW YORK, Nov. 21 (Xinhua) -- Oil prices dipped on Monday, extending the losses they had suffered in the prior week, as concerns over a deteriorating demand outlook continued to weigh on the market.
The West Texas Intermediate (WTI) for December delivery decreased 35 cents, or 0.44 percent, to settle at 79.73 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery lost 17 cents, or 0.19 percent, to close at 87.45 dollars a barrel on the London ICE Futures Exchange.
Last week, the WTI shed 9.98 percent, while the global crude benchmark dropped 8.7 percent, based on the front-month contracts.
Traders continued to worry that a global economic slowdown would subdue demand for energy.
A rally in the U.S. currency also presented a headwind. The dollar index, which measures the greenback against six major peers, jumped 0.85 percent to 107.8350 in late trading on Monday.
