Oil prices were near flat on Tuesday, supported by gains in equity markets but pressured by a strengthening U.S. dollar as investors remained concerned about the financial crisis in Turkey.
U.S. light crude was ended the session down 16 cents at $67.04, falling from a session peak at $68.37. Global benchmark Brent crude was down 2 cents at $72.59 by 2:18 p.m., after hitting a high of $73.93.
Oil rebounded early from the previous session's slide, then pared gains at mid-day as the U.S. dollar touched a 13-month high against a basket of currencies. A stronger dollar makes greenback-denominated oil more expensive for holders of other currencies.
"Usually when the dollar starts making highs, it's probably a sign that we're still concerned about the Turkish situation," said Phil Flynn, analyst at Price Futures Group in Chicago. "There's still a bit of nervousness on the global stage."