05:10 AM EST, 01/06/2025 (MT Newswires) -- Crude oil prices edged lower on a strong U.S. dollar as the market awaits key economic data from the U.S.

Brent crude lost 0.2% to US$76.37 per barrel and West Texas Intermediate crude was down 0.2% to US$73.84/b at last look early Monday. Both benchmarks on Friday closed at their highest levels since mid-October, Reuters said in a Monday report.

The gains came amid colder weather in the Northern Hemisphere and hopes surrounding additional fiscal stimulus by China.

However, the U.S. dollar index at US$108.57 at last look early Monday is close to a two-year peak, the report said. A stronger dollar makes oil more expensive for holders of other currencies.

The market is focused on more clues on the Fed's rate outlook and potential impacts on energy consumption. Minutes of the Fed's last meeting are due on Wednesday, Reuters reported.

Meanwhile, the world's top oil exporter Saudi Aramco on Monday raised crude prices for Asian buyers in February for the first time in three months, according to the report.