Oil futures traded lower in thin trading Tuesday after posting strong gains in the previous session. Light sweet crude oil for February delivery fell 43 cents, or 1%, to $39.59 a barrel in electronic trading on Globex. "Prices remain under pressure from concerns about the world economy and so many are now looking to see whether OPEC can deliver its proposed output cuts that would counter the weaker demand picture," said Michael Davies, an analyst at Sucden Financial Research.

Source