Crude oil futures were pressured on Tuesday by oversupply and worries the dollar will strengthen when the U.S. Federal Reserve eventually raises interest rates.  Benchmark U.S. crude futures CLc1 were trading at $46.17 per barrel at 0739 GMT (2.39 a.m. ET), up just 3 cents from their last settlement after falling in the previous session due to a rise in stockpiles.  Internationally traded Brent LCOc1 dropped 15 cents to $48.64, under pressure from Russian production hitting a post-Soviet peak while China’s demand outlook weakened.  “Crude continues to remain under pressure due to emerging supply-side news and slowing Chinese demand. Russian oil output broke a post-Soviet record in October for the fourth time this year. News from Iran is also painting a negative picture,” ANZ said in a morning note.

Click here to view full article at www.reuters.com