Oil nears 3-week low then steadies on higher US demand, weaker dollar
Oil prices were steady on Tuesday after dropping close to a three-week low, drawing support from a weakening dollar and on data showing demand for U.S. crude and petroleum products rose in November.
Although the front-month Brent futures contract was down 37 cents to $84.53 a barrel in low volumes, the more actively traded April Brent futures rose by 89 cents, or 1.1%, to $85.39 by 12:47 p.m. EST (1747 GMT).
U.S. WTI crude rose 92 cents, or 1.2%, to $78.82 a barrel.
More volatility on the day of expiration kept the front-month contract under pressure as traders closed positions, said Mizuho analyst Robert Yawger.
