UAE-Mubasher: Global oil prices were dragged down by stronger dollar, as Brent crude oil retreated 2.74% or 36 cents to settle at $42.64 per barrel in early Asia trades on Monday as compared to $43 on Friday.
The U.S. crude oil fell by 3.8% or 42 cents to reach $39.94 a barrel in the Asian markets.
U.S. dollar price increased 0.17% or 0.16 cents to reach $98.43 per barrel, while the price of euro inched down 0.08%.
Goldman Sachs expected oil prices to reach $20 a barrel, as over 100 million barrels of crude oil exist on carriers overseas.
