An oil rig is shown in this file photo. An oil rig is shown in this file photo.
Brent crude oil futures fell $4 to $102.83 a barrel on Monday as investors and traders dumped riskier assets on worries that Spain would have to seek a full bailout, and the dollar strengthened, heaping pressure on commodities.
By 14:35 SA time, the front month contract was down $4.20 at $102.63 a barrel. US crude futures were down $3.77 at $88.06 a barrel at the same time.
Oil prices came under the hammer as investors fled to the perceived safety of the US dollar after expectations grew that Spain would become the fourth eurozone member to ask for a bailout. - Reuters