Summary Global oil prices remained weak in choppy trade Thursday.
NEW YORK (AFP) - Global oil prices remained weak in choppy trade Thursday, buffeted by the strong dollar and rebounding Libyan output.
US benchmark West Texas Intermediate for delivery in November fell 27 cents from Wednesday s close to $92.53 per barrel.
In London trade, Brent North Sea crude for November swung sharply before finishing a bare five cents higher at $97.00 a barrel.
"Abundant crude oil supplies continued to weigh on market sentiment," said senior analyst Myrto Sokou at the Sucden brokerage. "Furthermore, the strong US dollar adds further pressure to the market."
The rising greenback makes dollar-priced oil more expensive for buyers using weaker currencies, dampening demand.
Recovering Libyan exports meanwhile have added to the oversupply. Light Libyan crude is valued by refiners in Europe as an alternative to Brent.
"The predominant driver... remains buoyant supply combined with weakening global demand and a gaining dollar value," said Dorian Lucas, analyst at British-based consultancy Inenco.
The euro plunged Thursday to a nearly two-year low of $1.2697 on fresh worries over the health of the stuttering eurozone economy.
