World oil prices sank this evening, hit by a stronger dollar and concerns that China might tighten monetary policy to rein in inflationary pressures.
US crude shed $2.20 to $82.66 a barrel, while Brent North Sea crude lost $1.74 to $85.02.
The euro plunged close to a two-month low under $1.35 this afternoon as euro zone finance ministers held a crunch meeting in Brussels to address the debt crisis in Ireland and other euro zone countries.
A stronger dollar affects dollar-denominated oil, which becomes more expensive for buyers using other currencies.
Data released last week showed that Chinese consumer prices rose at their fastest pace in more than two years in October, reviving worries that the authorities might hike interest rates again.
Chinese spending might be affected if monetary policy is tightened further and there are some who worry this will reduce China's appetite for commodities including oil.
