Brent, WTI prices ease after Friday39;s gains
Major China cities report record number of COVID19 cases
U.S. Fed not softening fight against inflation Gov. Waller

SINGAPORE, Nov 14 Reuters Oil prices pared earlier gains and fell on Monday, dragged down by a firmer U.S. dollar and record high coronavirus cases in major Chinese cities that dashed hopes of the reopening of the economy of the world39;s biggest crude importer.

Contracts for Brent crude and U.S. West Texas Intermediate had edged up nearly 1 earlier in the session but later reversed their trajectory and headed lower.

Brent crude futures were down 32 cents, or 0.3, to 95.67 a barrel by 0725 GMT after settling up 1.1 on Friday while WTI crude futures fell 39 cents, or 0.4, to 88.57 a barrel after closing Friday39;s session 2.9 higher.

USD strength appears to be weighing on oil and the broader commodities complex this afternoon, said Warren Patterson, head of commodities strategy at ING. There probably is also an element where the market got a bit ahead of itself on Friday following an easing in China39;s COVID related quarantine measures.

Commodities prices rallied on Friday after China39;s National Health Commission adjusted its COVID prevention and control measures to shorten quarantine times for close contacts of cases and inbound travellers and eliminate a penalty on airlines for bringing in infected passengers.

But COVID cases climbed in China over the weekend, with Beijing and other big cities…