Reuters | Oil slipped below $71 a barrel Monday as Wall Street turned negative and a stronger dollar weighed. Crude futures had earlier followed U.S. equities higher, but lower shares of industrial and big manufacturers weighed on the market, helping pull crude down.

Benchmark U.S. crude prices fell 60 cents to $70.91 a barrel at 11:32 a.m. EDT, after earlier rising to $72.17.

Prices have declined by almost one fifth since hitting a 19-month high above $87 a barrel in early May.

ICE Brent crude for July fell 51 cents to $71.58.

“Now that the equity markets have started to sell off we are back in negative territory,” said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut. “The market is struggling for direction today.”

“We might be seeing signs that a new range is being established between $69 and $75 and the market can flood through these areas pretty rapidly.”

The euro bounced off a session low below $1.19, but remained down against the dollar Monday, helping pressure crude. Strong German industrial orders helped the euro steady, with signs that Europe’s largest economy is on the path to durable growth.