Oil prices fell this evening as the US dollar strengthened and a measure of the US job market declined in August, leading to concerns about the prospects for oil demand in the world's top consumer.
A strong dollar can weigh on oil as it makes crude more expensive for other currency holders. US crude fell $1.52 to $73.08 a barrel, while Brent crude was down 66 cents to $76.21.
The Conference Board, a US private research group, said its employment trends index fell to 96.7 in August from a revised 97.4 in July, signalling that US employment growth may continue to slow in coming months.
Brent remained at an unusual premium to US crude as high levels of US inventories affected the US measure.
Monday marked the end of the US driving season, the period when petrol demand rises as people go on holidays. This, and high unemployment in the world's top consumer, raised concern about the outlook for demand.
