Oil falls on demand concerns, strong dollar
Oil fell on Thursday as expectations of weaker demand and a strong U.S. dollar ahead of a potentially large interest rate increase outweighed supply concerns.
The International Energy Agency said this week oil demand growth would grind to a halt in the fourth quarter. The dollar held near recent peaks, supported by expectations the U.S. Federal Reserve will continue to tighten policy.
Brent crude was down 56 cents, or 0.6%, to $93.54 a barrel at 0951 GMT. U.S. West Texas Intermediate crude fell 44 cents, or 0.5%, to $88.04.
