Oil victim of strong dollar

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Oil fell for a second day yesterday, approaching US$82, as dollar strength kept a lid on prices, neutralising the effect of upbeat US employment data and a drop in the nation's crude inventories last week.

At the same time, US stockpiles of petrol and distillate fuels, including diesel, extended a string of gains, contributing to a mixed perception about the outlook for oil demand from the world's top consuming nation for the rest of the year.

US crude for September fell US29c to US$82.18 a barrel. ICE Brent shed US32c to US$81.88.