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Oil falls below $77

18 February 2010 08:00 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. Oil fell below $77 a barrel on Thursday, dragged down by a stronger dollar and weaker gold prices, which dampened other commodities and outweighed upbeat news on the U.S. economy, Reuters reported.

The dollar rose to near nine-month highs on the euro, which was hounded by the sovereign debt woes of Greece and a weak eurozone growth outlook, in contrast to news that Federal Reserve policy makers, confident in the U.S. recovery, aim to begin unwinding stimulus measures soon.

U.S. crude for March delivery CLc1 fell 37 cents to $76.96 a barrel at 0612 GMT. London Brent crude for April LCOc1 lost 36 cents to $75.91 a barrel.