Oil fell further in Asian trade today as a strong US dollar dampened investor appetite for crude futures, analysts said.
New York's main contract, light sweet crude for April delivery, fell 29 cents to $81.91 a barrel.
Brent North Sea crude for May delivery eased 26 cents to $81.22.
The crippling debt crisis facing Greece remained a drag on the euro as investors turned to the US dollar which is regarded as a safe haven asset during a crisis.
"The lingering and unresolved situation with the Greek fiscal troubles has strengthened the US dollar versus the euro," said Victor Shum, a Singapore-based analyst with energy consultancy Purvin and Gertz.
"That has caused some selling of oil futures," he said.
A stronger greenback makes dollar-denominated crude more expensive for buyers using weaker currencies.
The dollar soared in New York after Greek prime minister George Papandreou said yesterday his country would go to the International Monetary Fund for cash if fellow European Union members failed to step in.
His remarks sent the euro plummeting to a day low of $1.36, before a modest recovery.
In Asian trading today, the euro changed hands at $1.361 compared with 1.360 in late US trade yesterday.
Comments