Brent crude oil fell toward $59 a barrel on Monday as the dollar strengthened and a supply glut pushed global oil inventories to record highs. The dollar hit a more than 11-year high against a basket of currencies after data showed the U.S. unemployment rate in February fell to its lowest level since May 2008, making commodities priced in the greenback more expensive for holders of other currencies. Oil inventories are rising across the world as production outstrips demand, offsetting geopolitical tensions in the Middle East and the risk of output cuts in Libya and Iraq. Brent LCOc1 was down 30 cents at $59.43 a barrel by 4 a.m. ET. The North Sea crude oil futures contract fell 4.6 percent last week in its biggest decline since the week ended Jan. 9. U.S. crude CLc1 was up 15 cents a barrel at $49.76. It closed down […]