NEW YORK ( TheStreet) -- Crude oil prices slumped to $84 a barrel Monday as a stronger greenback made dollar-priced commodities less attractive to foreign buyers.
Although the June delivery contract for crude traded as high as $85.63 on Monday, it finished only a little higher than its lowest point of the session: $84.06. The contract lost 92 cents, or 1.1%, to settle at $84.20 a barrel -- a disappointing turn after its performance on Friday, when it added $1.42 to settle at $85.12 a barrel on surging new-home sales and strong durable goods orders.
A strong U.S. dollar, which was trading 0.3% higher against a basket of foreign currencies for most of the session, was putting some downward pressure on crude. The dollar index was last up by 0.1%. The
Stocks failed to establish a clear direction Monday. The Dow spent the session in positive territory, supported by strong earnings results from
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