By MarketWatch
LONDON (MarketWatch) -- Crude-oil futures extended losses on Tuesday, with the November contract dropping 96 cents, or 1.1%, to $81.25 a barrel in electronic trading on Globex. The Organization of the Petroleum Exporting Countries will release its monthly oil-market report later today. In other trading, gold futures also declined, while the U.S. dollar gained against its major rivals. The dollar index (DXY 77.76, +0.32, +0.41%) rose 0.4% to 77.777. Dollar strength tends to weigh on oil prices, because it makes oil more expensive for holders of other currencies.
