Oil fell in choppy trade today as investors sold off a rally above $80 a barrel and the dollar strengthened against the euro.
Crude rose earlier today but lost steam above $80, near the top of a range that has been in place over the past few months.
The euro fell against the dollar today as uncertainty remained over a bailout package for debt-strapped Greece, adding pressure to crude prices.
US crude for April delivery fell $1.33 to $78.33 a barrel this evening, after climbing as much as 96 cents earlier.
London Brent crude fell $1.07 to $76.52.
On Friday, the contract settled up $1.49 at $79.66 and posted its biggest monthly percentage gain since May 2009. Market sentiment was lifted by stronger-than-expected economic growth in the US, the world's top energy consuming country, followed by number two China.
Unemployment in the euro zone remained at 9.9% in January, providing more evidence that Europe's recovery from the worst recession in decades is a largely jobless one, official data showed today.
The Commerce Department said the economy grew 0.2 percentage points more than its initial estimate of a 5.7% annualised growth rate from the third quarter.
The slight upward revision to gross domestic product (GDP) - a broad measure of the country's goods and services output - surprised most analysts who had expected no change in the first estimate.
