Oil prices fell slightly on Monday, dragged down by several factors including a renewed strength of the dollar, as investors also expected more information on the future US policy towards Iran. On Monday morning, a barrel of North Sea Brent for delivery in March gave up 0.13% in London from Friday's close at $55.03. The US barrel of WTI for the month of February dropped 0.02% to $ 52.35. The prices of the two crude oil reference contracts ended last week on a session of sharp decline, by more than 2% on Friday, after having touched two days earlier highs since the end of February 2020, to $57.42 and $53.93 per barrel, respectively. Oil prices "remain under pressure," analyst Eugen Weinberg said. "Covid-19 economic fears, a stronger US dollar and more pessimistic investor sentiment are all playing their part" in this sense, he continued. The pandemic passed the two million death mark worldwide on Friday since its discovery in China in December 2019 and the number of infections is approaching 100 million on Monday. The Dollar Index, which compares the greenback to other major currencies, was also trading at its highest in nearly a month, moving away from its lowest in two and a half years hit in early January. For the black gold market, this means that the barrel, the price of which is set in dollars, is more expensive for buyers using other currencies. But "overall, the environment remains favorable (for prices), with buyers popping up whenever the price drops," said analyst Carlo Alberto De Casa. Analysts also identified on Monday a main factor likely to install a ceiling on crude prices: a relaxation of US policy towards Iran, mentioned several times by the future tenant of the White House Joe Biden and bringing back a volume of crude on the market now excluded. (APS)