Oil prices fell this evening, under pressure from a stronger US dollar and uncertainty ahead of a possible debt deal in Greece along with concerns about China's contracting manufacturing sector.
Brent crude fell $1.90 to $109.65 a barrel. US crude dropped $2.22 to $98.17.
The dollar strengthened as the euro fell from a two-week peak against the US currency as investors locked in profits from this week's rally. Slowing Chinese growth added to pressure on oil prices after a survey of purchasing managers showed China's factory activity likely to fall for a third consecutive month in January.
US petrol and heating oil prices both fell after Thursday's weekly oil data from the Energy Information Administration showed rising petrol and distillate stockpiles and weak demand. US petrol demand last week plummeted to the lowest level in more than a decade, the EIA data showed.
Looking ahead, oil traders were awaiting the results of a meeting of EU foreign ministers on Monday on plans to impose an oil embargo on major crude producer Iran.
