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Oil deepens losses, Brent falls below $75
Oil prices fell on Friday, as the US dollar rose against most of its peers, ahead of the release of the US drilling activities data, but oil remains on track for weekly gains.
Oil prices were recently lifted by fears of supply disruption in the US after Hurricane Ida swept Gulf of Mexico region that contains around 17% of the total US production.
Baker Hughes will reveal its count of the oil and natural gas rigs in the United States later today.
The dollar index rose against a basket of major currencies by 0.2% to 93.1 points as of 16:23 GMT, after hitting a high of 93.2 points and a low of 92.7 points.
As of 16:21 GMT, WTI crude October futures fell 1.1% to $71.8 a barrel.
Brent November futures fell 0.8% to $75.05 a barrel.
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