Oil prices finished at a new three-month low Monday after briefly dropping below $113 a barrel mark, as the dollar extended its rebound and more signs emerged that China's energy demand could be leveling off.

In earlier trading, oil fluctuated as traders monitored the conflict between Russia and Georgia that some believe could disrupt supplies. But those worries faded to the background as the dollar's recovery accelerated, and as the energy market focused on a report from China that the country's crude oil imports in July were down 7 percent from last year.