Updated at: 1145 PST, Saturday, April 17, 2010
SINGAPORE: Oil prices fell towards $85 a barrel on Friday as doubts over US crude demand re-emerged and the dollar strengthened, making imports more expensive for emerging economies where consumption is surging.
U.S. crude for May delivery fell 49 cents to $85.02 a barrel by 0900 GMT, more than $2 lower than an 18-month high above $87 reached last week. The dollar gained almost 0.1 percent against a basket of currencies.
The May London Brent crude oil contract reached 18-month highs just before it expired on Thursday, jumping to a premium over the front-month US crude contract of over $1.60. The June contract, now the front-month contract, was trading about $1 higher than the equivalent contract for US crude on Friday, shedding 35 cents to $87.24.
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