Oil prices fall on strong dollar

NEW YORK, Aug. 14 (Xinhua) -- Oil prices declined on Monday as a stronger dollar spurred market sentiment for dollar-priced oil.

The West Texas Intermediate for September Delivery erased 1.23 dollar to settle at 47.59 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery lost 1.37 dollar to close at 50.73 dollars a barrel on the London ICE Futures Exchange. Enditem