Sept 29 (Reuters) – Oil prices fell in early Asian trade on Thursday as a strong dollar and economic woes outweighed optimism over consumer demand.
Brent crude futures fell 59 cents, or 0.7%, to $88.73 per barrel by 0016 GMT while U.S. crude futures fell by 54 cents, or 0.7%, to $81.59. Both benchmarks rebounded in the prior two sessions amid volatile trade after reaching nine-month lows this week.
The dollar trended upward on Thursday morning , after hitting a fresh two-decade peak against a basket of currencies on Wednesday before pulling back. A strong dollar reduces demand for oil by making it more expensive for buyers using other currencies.
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