World oil prices slid this evening as the US dollar recovered against the euro amid concerns over euro zone debt.
Prices had earlier risen as the euro's value soared against the dollar following the agreement of a massive bail-out for Ireland, but the positive sentiment soured on fears that other nations may need rescuing.
Brent crude dropped 89 cents to $83.45 a barrel after earlier jumping by more than $1. US crude shed 98 cents to $81. A stronger dollar makes oil more expensive for buyers using weaker currencies, hurting demand.
Oil prices tracked the foreign exchange market after the European Union and International Monetary Fund on Sunday agreed to bail out Ireland. Today, the euro jumped as high as $1.3786 before falling under $1.36 as optimism over Ireland switched to fears of contagion.
