Oil falls to $85 on demand doubts, dollar - Economic Times

LONDON: Oil prices fell towards $85 a barrel on Friday as doubts over US crude demand re-emerged and the dollar strengthened, making imports more expensive for emerging economies where consumption is surging.

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An unexpected jump in the weekly number of US workers filing new jobless benefit claims raised doubts over the strength of economic recovery in the world's largest energy consumer, weighing on oil prices.

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U.S. crude for May delivery fell 49 cents to $85.02 a barrel by 0900 GMT, more than $2 lower than an 18-month high above $87 reached last week. The dollar gained almost 0.1 percent against a basket of currencies.

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Full Story: Oil falls to $85 on demand doubts, dollar - Economic Times