• Print
• E-Mail

NEW YORK - Crude oil fell under $141 per barrel on Monday as the dollar gained and Iran indicated progress in talks over the nation's nuclear program.

Oil was down more than $4 after Iran's foreign minister said on Sunday that talks with western governments were in a "new environment."

Meanwhile, the dollar was up, reaching a one-week high versus a basket of major currencies. As the dollar gains, commodities denominated in the U.S. currency tend to slip in appeal to some investors.

Oil was down $4.60, or 3.17 percent to $140.69 at 12:38 p.m. on the New York Mercantile Exchange. Brent crude was trading down $1.77, or 2.56 percent to $140.69.

Oil is down from a record of $145.85 last Thursday.