Oil prices were mixed this evening after heavy losses last week, with dealers saying the market was still assessing what the euro zone debt crisis would mean for overall economic growth. A stronger dollar also put pressure on prices, as oil is sold in the US currency.
US crude was up 28 cents to $70.32 a barrel, but London's Brent crude was down 28 cents at $71.40.
A stronger US dollar makes crude more expensive for buyers using weaker currencies, denting demand, which leads to lower prices.
Oil plunged last week, nearing 10-month lows, as traders worried about the euro zone crisis, weak US unemployment data and falling global share prices.
Oil market analysts said that supply still outweighed demand, while the European debt crisis remains a key concern for investors.
The Centre for Global Energy Studies said, meanwhile, that the global economic recovery would benefit from a period of oil prices below $80, given the growing risk of a fall back into recession.
