By Nick Godt, MarketWatch
NEW YORK (MarketWatch) — Crude-oil futures got tugged lower Monday, as concerns about European debt woes pressured the euro and lifted the dollar while rekindling concerns about global growth.
Crude for November delivery recently fell 18 cents, or 0.2%, to $81.41 a barrel.
The euro retreated nearly 1% against the dollar, hit by a further increase in Spanish unemployment as well as remarks by Joseph Stiglitz, the Nobel Prize-winning economist, who said economic woes could endanger the euro.
The dollar index (DXY 78.32, +0.23, +0.29%) , which measures the U.S. unit against a basket of six major currencies, rose 0.3%, pressuring commodities and gold.
Adding to pressure on crude, investors remain concerned about possible earnings warnings on Wall Street, with the key U.S. jobs report for September looming at the end of the week.
On Friday, crude finished at a seven-week high, ending above the $80 mark for the first time since Aug. 10.
U.S. manufacturing data dented the week’s gains arising from optimism about growth prospects in China as well as from a weaker dollar.
