Qa'dah 11, 1431, Oct 19, 2010, SPA -- Oil prices fell below $83 a barrel Tuesday as the dollar bounced back slightly and investors weighed the impact possible Fed measures to boost the U.S. economy would have on crude, the Associated Press reported. By early afternoon in Europe, benchmark oil for November delivery was down 26 cents to $82.82 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.83 to settle at $83.08 on Monday. A slightly stronger dollar pushed oil prices down by making crude more expensive for investors holding other currencies. The euro was down to $1.3926 on Tuesday from $1.3998 late Monday in New York, while the British pound retreated to $1.5794 from $1.5936. Traders will also be closely watching the latest U.S. crude supply data. The American Petroleum Institute will release its report on oil stocks later Tuesday, while the report from the Energy Department's Energy Information Administration _ the market benchmark _ will be out on Wednesday. In other Nymex trading in November contracts, heating oil fell 1.32 cents to $2.2629 a gallon and gasoline dropped 1.90 cents to $2.1325 a gallon. Natural gas rose 1.4 cents to $3.445 per 1,000 cubic feet. In London, Brent crude fell 38 cents to $83.99 a barrel on the ICE Futures exchange.
