Oil prices slipped this evening, pulled down by investors' unease about the economic recovery and a slightly stronger US dollar.

US oil inventories near record highs and slow demand kept oil prices hemmed in after receiving some lift on Friday from Federal Reserve chairman Ben Bernanke's speech saying that the central bank was ready to act to bolster a faltering economic recovery.

Meanwhile, a stronger dollar can put pressure on crude prices because countries using other currencies must pay more for dollar-denominated oil and the currency producers are paid gains value.

US crude fell 44 cents to $74.73 a barrel, while Brent crude dipped only six cents to $76.59.

Oil markets continued to eye tropical weather systems churning in the Atlantic. The US National Hurricane Center continued to monitor three tropical systems in the Atlantic basin, but computer models showed all three steering clear of oil and gas producing areas in the Gulf of Mexico.