Oil falls as investors wary of trade slowdown by expertcommodity.com

© Reuters. Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai

By www.expertcommodity.com

Oil prices dipped on Monday amid cautious sentiment as a plunge in financial markets last week and dollar strength early this week underscored concerns that growth may be slowing, especially in Asia's emerging economies.

Front-month Brent crude oil futures were trading down 39 cents, or 0.5 percent, at $77.23 a barrel at 0616 GMT.

Graphic: U.S. rig count - https://tmsnrt.rs/2OVjfgl

U.S. West Texas Intermediate (WTI) crude futures were at $67.31 a barrel, down 28 cents, or 0.4 percent, from their last settlement.

Investors remained wary after hefty losses last week, while a stronger dollar on safe-haven buying puts pressure on the purchasing power of emerging markets.