Oil prices tumble amid U.S. dollar strength, demand concerns

NEW YORK, July 12 (Xinhua) -- Oil prices fell sharply on Tuesday, weighed by a firm U.S. dollar and concerns over weaker demand outlook.

The West Texas Intermediate (WTI) for August delivery shed 8.25 U.S. dollars, or 7.9 percent, to settle at 95.84 dollars a barrel on the New York Mercantile Exchange. Brent crude for September delivery decreased 7.61 dollars, or 7.1 percent, to close at 99.49 dollars a barrel o