Crude prices retreat as dollar strengthens
Crude prices retreated on Monday as the U.S. dollar strengthened against other major currencies, Xinhua reported.
The U.S. currency gained broadly on Monday. The euro slipped below 1.26 dollars after hitting two-month highs above 1.27 dollars late last week.
Traders also are waiting for the second quarter corporate earnings season, beginning this week with reports from Alcoa Inc.
Light, sweet crude was down 1.14 dollars to settle at 74.95 dollars a barrel on the New York Mercantile Exchange.
In London, Brent crude fell 1.05 dollars to settle at 74.37 dollars a barrel on the ICE Futures exchange.