Oil prices fell Tuesday as the U.S. dollar strengthened and market participants continued to question the sustainability of the recent price rally. Light, sweet crude for July delivery recently fell $1.27, or 2.1%, to $58.45 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell $1.12, or 1.7%, to $64.40 a barrel on ICE Futures Europe. The Wall Street Journal Dollar Index, which tracks the dollar against a basket of other major currencies, rose 0.7% on Tuesday. As it is priced in dollars, oil becomes more expensive for holders of other currencies as the greenback appreciates. “Oil prices are fighting exceptional strength in the dollar,” said Phil Flynn , analyst at Price Futures Group in Chicago, in […]