Oil prices declined in early Asian trading on Monday, marking a second consecutive session of losses. The drop was attributed to a stronger dollar, which renewed concerns about prolonged higher interest rates and dampened investors’ appetite for risk.

Brent crude futures fell by 40 cents, or 0.5%, to $84.84 per barrel as of 0036 GMT, following a 0.6% decrease on Friday. Meanwhile, U.S. West Texas Intermediate crude futures were down 39 cents, or 0.5%, trading at $80.34 per barrel.