US oil prices seesawed today, supported by a strike at France's top oil port and disruptions to Houston petrochemical shipping, while a dollar bounce and Wall Street weakness kept gains in check.
The strike at French port Fos-Lavera entered its eighth day, blocking dozens of oil tankers, trimming some refinery output and firming European fuel prices.
The Houston Ship Channel will not reopen until later tonight at the earliest after a barge struck an electrical tower early on Sunday, the US Coast Guard said.
US crude rose 10 cents to $81.68 a barrel, after reaching a nearly two-month high at $82.38. Brent crude slipped 16 cents to $83.59 a barrel.
Sunday's accident in Houston downed a power line across part of the channel leading to Houston's port. The Coast Guard said four refineries were affected, but Exxon's huge, 565,500 barrel-per-day Baytown, Texas, refinery suffered no impact.
Helping to limit oil's strength, the US dollar recovered from early declines as renewed concerns about the financial stability of some euro zone countries hit the European single currency. A stronger dollar can weigh on dollar-denominated oil prices because it weakens the buying power of holders of other currencies.
