OIL FUTURES: Crude Shrugs Off Iran Fears, Falls On Dlr Rally - Wall Street Journal

SINGAPORE (Dow Jones)--Crude oil prices in Asia fell Monday, hurt by a rally in the U.S. dollar, as traders remained pessimistic over global oil demand following last week's downbeat U.S. economic data.

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"It is possible that the market may test the support level of $65 a barrel (in the near term)," said Ken Hasegawa, commodity derivatives sales manager at Newedge Japan in Tokyo. "Any upside is very tough at the moment, because there is still a lot of (oil) inventory all around the world." ... Email Newsletters and Alerts The latest news and analysis delivered to your in-box. Check the boxes below to sign up.

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