Oil eases on stronger dollar, China demand concerns
Brent crude futures fell 73 cents, or 0.84%, to $86.08 a barrel by 0330 GMT while U.S. West Texas Intermediate crude was at $82.48 a barrel, down 71 cents.extended gains after a slightly bigger increase in U.S. producer prices in July lifted Treasury yields despite expectations the Federal Reserve is at the end of hiking interest rates.
"Crude has been in overbought territory for some time now, defying expectations of a correction. It has been singularly focused on U.S. economic optimism, to the exclusion of the increasingly stronger headwinds blowing in the eurozone and China," said Vandana Hari, founder of oil market analysis provider Vanda Insights.Oil may be range-bound this week as China's sluggish economic recovery and a stronger U.S.
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