WASHINGTON (dpa-AFX) - Oil futures settled lower on Monday, coming off the four-month highs they touched last week.
The dollar's strength ahead of consumer and producer inflation reading weighed on oil prices.
West Texas Intermediate Crude oil futures for September ended lower by $0.88 or about 1.1% at $81.94 a barrel.
Brent crude futures for October settled lower by $0.90 or about 1% at $85.34 a barrel.
A stronger dollar weighed on oil prices today, as investors await cues from China's trade balance figures and inflation readings from the United States and China due this week.
China's trade balance figures on Tuesday and inflation data due on Wednesday will give clues to the country's recovery trajectory.
The U.S. consumer price inflation report for July is slated to be released on Thursday and the producer price inflation report on Friday as investors seek further clarity on the path of inflation and the health of the world's largest economy.
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