Oil prices fall as stronger dollar offsets Red Sea disruptions risks

Oil prices fell on Wednesday as a stronger U.S. dollar limited demand for greenback-denominated crude, though the rising risks of supply disruptions amid the intensifying conflict in the Red Sea curbed the losses.

Global benchmark Brent crude futures fell 36 cents, or 0.5%, to $77.93 a barrel by 0215 GMT. U.S. West Texas Intermediate crude futures (WTI) fell 43 cents, or 0.59%, to $71.97 a barrel.