Oil futures gave up small gains to end slightly lower Tuesday, feeling renewed pressure as the dollar found its footing and investors prepared for data on U.S. crude inventories. The U.S. benchmark West Texas Intermediate crude for September delivery  fell 16 cents, or 0.2%, to close at $67.04 a barrel on the New York Mercantile Exchange. October Brent crude, the global benchmark lost 15 cents, or 0.2%, to end at $72.46 a barrel on the ICE Europe exchange. Futures initially edged higher after Saudi Arabia told the Organization of the Petroleum Exporting Countries that it had reduced crude output by 200,000 barrels a day to 10.29 million barrels a day in July. OPEC itself, using...

Read more...