Oil prices dip as dollar strengthens, remain on track for weekly rise
Oil prices edged lower in early Asian trade on Friday as the US dollar pared some losses, while easing Covid-19 curbs in two Chinese cities limited losses.
Brent crude futures were down 11 cents or 0.1 per cent at $86.77 per barrel by 1:28 GMT, while US West Texas Intermediate (WTI) crude futures lost 14 cents or 0.2 per cent to $81.08 per barrel.
The US dollar, which typically trades inversely with oil, edged higher after dipping to 16-week lows against a basket of major currencies following data that showed US consumer spending increased solidly in October.
