London: Brent crude oil futures fell by more than $1 on Tuesday to a four-year low of $81.23, as a strong dollar and robust production from U.S. shale oil fields weighed on prices.
The U.S. dollar hit a 7-year high against the yen and was up 0.2 percent on the day against a basket of currencies.
Production from shale oil fields in the United States showed no signs of slowing despite falling prices, the Energy Information Administration said in a forecast on Monday.
U.S. crude futures fell by 98 cents to an intraday low of $76.42.
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