Oil prices under pressure from rising economic concerns

Oil prices fell on Monday, weighed down by gloomy economic prospects in Europe and Asia and a related strengthening in the U.S. dollar, which makes fuel imports for countries using other currencies more expensive. The softening comes a week after crude prices hit 2016 highs on the back of a quicker-than-expected rebalancing in physical oil markets. The dollar has risen 1.2 percent from June lows against a basket of currencies, lifted by the prospect of a potential hike in U.S. interest rates, co