New York - Crude oil prices fell sharply during the weekend to less than $98 a barrel as the euro lost ground and a report pointed to slower economic growth in China.

The dollar index, a prorated measure of the U.S. dollar against six major currencies, rose to 76.282 from Friday's 75.441. The euro dropped to $1.3969 against the dollar, the lowest point in two months.

Signs of slower demand from China were found in a report from HSBC that pegged the country's purchasing managers index at 51.1 in April from 51.8 in March, MarketWatch reported.