NEW YORK, Oct. 8 (Xinhua) -- Crude oil dropped more than 2 dollars a barrel on Monday for the first time in almost two months as the dollar rebounded against the euro.
Crude oil for November delivery fell 2.20 dollars, or 2.7 percent, to settle at 79.02 dollars a barrel at 2:45 p.m. (1845 GMT) on the New York Mercantile Exchange, the lowest close since Sept. 11.
It was the biggest one-day decline since Aug. 16. The contract touched 78.35 dollars during the session, the lowest intraday price since Sept. 17.
The strength of the U.S. currency Monday came amid a meeting of European finance ministers, who are trying to apply downward pressure on the euro, which has risen to record highs due to the slide of the dollar.
The dollar rose 0.7 percent to 1.4038 dollars per euro at 1:27 p.m. (1727 GMT) in New York. It has climbed 1.7 percent since falling to an all-time low of 1.4283 dollars on Oct. 1.
Crude oil for November delivery fell 2.20 dollars, or 2.7 percent, to settle at 79.02 dollars a barrel at 2:45 p.m. (1845 GMT) on the New York Mercantile Exchange, the lowest close since Sept. 11.
It was the biggest one-day decline since Aug. 16. The contract touched 78.35 dollars during the session, the lowest intraday price since Sept. 17.
The strength of the U.S. currency Monday came amid a meeting of European finance ministers, who are trying to apply downward pressure on the euro, which has risen to record highs due to the slide of the dollar.
The dollar rose 0.7 percent to 1.4038 dollars per euro at 1:27 p.m. (1727 GMT) in New York. It has climbed 1.7 percent since falling to an all-time low of 1.4283 dollars on Oct. 1.
