Oil Prices Continue Last Week's Slide

New York, NY, Sept. 28, 2009--Oil futures continued to move lower early Monday after last week's steep decline, as modest dollar strength and falling global equity markets weighed on market sentiment.

Crude oil for November delivery fell 41 cents, or 0.6%, to $65.61 a barrel in electronic trading on Globex.

Oil futures tumbled 8.4% last week, posting the biggest weekly loss in more than two months.

"Weak equity markets in Asia and a firmer U.S. dollar are likely to put pressure on oil prices as the week starts," wrote analysts at Commerzbank in a note to clients.

Meanwhile, the average price of regular gasoline in the U.S. has dropped nearly seven cents over a two-week period to $2.52.

That's according to the national Lundberg Survey of fuel prices released Sunday.