By Sarah Turner, MarketWatch
SYDNEY (MarketWatch) — Crude-oil futures retreated in Asian trading hours Thursday, backing away from a three-month high reached in regular trading the previous day as the U.S. dollar edged higher.
New York Mercantile Exchange oil futures for September delivery CLU2 -0.14% declined 11 cents, or 0.1%, to $94.21 a barrel in electronic trading.
Crude gained in New York on Wednesday after the Department of Energy’s weekly report showed a larger-than-expected drop in crude supplies. Read more on Wednesday's oil move.
In the wider energy complex, other products pausing after gains made in the previous session included September gasoline RBU2 -0.34% , down 1 cent at $3.08 a gallon.
September heating oil HOU2 -0.01% , a distillate, traded flat at $3.08 a gallon. Natural gas for September delivery NGU2 +0.69% rose 3 cents to $2.78 per million British thermal units, however.
The ICE dollar index DXY +0.16% , a measure of the U.S. dollar against a basket of six major currencies, rose to 82.763 from 82.649 in North America late on Wednesday. A stronger dollar tends to pressure commodities that are benchmarked in the currency.
Sarah Turner is MarketWatch's bureau chief in Sydney.
