By V. Phani Kumar, MarketWatch
HONG KONG (MarketWatch) -- Crude-oil futures slipped in electronic trading Tuesday, giving up some of their gains overnight, as the U.S. dollar gained against most major currencies.
The front-month contract due for delivery in August was recently down 22 cents at $63.76 a barrel on Globex, reversing gains after rising as high as $64.54 a barrel earlier.
The dollar was higher against most major currency rivals Tuesday. See Currencies. A stronger dollar makes dollar-denominated crude oil more expensive for holders of other currencies and therefore often pressures crude prices.
The contract, due for expiry on Tuesday, ended 42 cents higher at $63.98 a barrel on the New York Mercantile Exchange overnight. See full story.
