Oil Drops Amid Stronger Dollar as Market Weighs Glut Outlook

An oil refinery and petrochemical plant in Houston, Texas. Photographer: Mark Felix/Bloomberg Oil fell, halting a four-session run of gains, pressured by a strong dollar and a backdrop of oversupply. West Texas Intermediate fell 0.8% to settle below $61 a barrel on Tuesday. A global equities rally hit a speed bump amid concerns about lofty valuations while the greenback climbed to the highest in more than five months, weighing on crude and other dollar-denominated commodities. Most Read from Bloomberg ...