Crude oil prices fell on Friday, despite trading higher earlier in the day on continued weakness in the dollar fueled gains but losing ground late in the session.

Light sweet crude for November delivery trading on the New York Mercantile Exchange settled at $1.22 or 1.6 percent lower at $81.66.

Prices had risen early as the dollar reached record lows versus the euro but then fell as lower gasoline and heating oil prices drove down crude just ahead of October oil products contract expirations.

The euro reached a record high of $1.4279 on Friday.

Economic factors which could lead to higher crude prices include numbers reported by the U.S. government on Friday showing higher consumer prices for the month of August.

Core consumer prices rose by 1.8 percent, near the high end of the Federal Reserve Bank's target.