(RTTNews) - The price of crude oil edged up Tuesday morning amid a generally firm U.S. dollar.
Light Sweet Crude Oil (WTI) futures for February delivery were up $0.59 to $89.84 a barrel. Yesterday, oil recovered from a three-week low amid fears over a supply shortage after the closure of the Trans-Alaska Pipeline entered third day.
This morning, the U.S. dollar was hovering around its 4-month high versus the euro. The greenback was struggling for direction against sterling, while trading flat versus the Swiss Franc and the yen.
Traders will look to the wholesale inventories report for November from the Commerce Department at 10.00 a.m. ET. Economists expect the report to show a modest 1% increase in inventories.
Today after the trading hours, the API will release it weekly report on U.S. crude oil inventories.
