WTI, Brent see declines on stronger dollar

Crude oil prices were lower again Tuesday, dropping for a fifth session in a row, as the US dollar strengthened and after disappointing reports on manufacturing from Germany and the U.K.

January contracts for West Texas Intermediate crude was down $1.31 to $72.62 per barrel on the New York Mercantile Exchange, while January Brent crude dropped 91 cents to $75.52 per barrel on the ICE Futures Europe exchange in London.

Nymex January gasoline futures were 2 cents lower to $1.92 per gallon and January heating oil also fell 2 cents, to $1.99 per gallon, but January natural gas added 12 cents to $5.10 per million British thermal units.

The strengthening of the US dollar and the bad news on manufacturing from Europe also hurt metals prices.

February gold was down $20.40 to $1,142.80 per troy ounce in New York trade, while gold for immediate delivery in London was down $12.08 to $1,146.02 per troy ounce.

Among other precious metals, March silver was down 55 cents to $17.81 per troy ounce and January platinum dropped $4.20 to $1,440.40 per troy ounce in New York.

Meanwhile, March copper was down 4 cents in New York, to trade at $3.17 per pound.

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