Oil Dips On Rising Dollar Despite Mountain Of Bullish News

Despite several bullish factors, oil prices erased earlier gains to drop on Monday morning due to a strengthening U.S. dollar.   As of 9:42 a.m. EST on Monday, WTI Crude was down 2.02% at $83.42, and Brent Crude traded below $87 a barrel, at $86.42, down 1.67%. Oil prices were up in early Asian trade but reversed course in the morning in the U.S. as the dollar rose to a two-week high, on the back of the heightened tension between Russia and the West over Ukraine. A stronger dollar makes oil buying more expensive for holders of other currencies.…