Oil down after 2015 high; Saudis’ Yemen action and dollar weigh

Brent oil hit a 2015 high before settling down with US crude on Monday as Saudi Arabia’s plan to halt bombing in Yemen eased tensions over the security of oil Middle East supplies.

A stronger dollar, following the largest US factory orders in eight months, had also weighed on crude.

UK Brent crude, the more widely used global oil benchmark, touched the year’s high of $67.10 before settling down just a penny at $66.45 a barrel.

US crude settled down 22 cents at $58.93.

Oil services firm Baker Hughes Inc added to that notion on Friday by saying the number of US rigs actively drilling for oil had fallen for a record 21 weeks in a row.

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