Oil futures snap losing streak

Oil futures marked their first gain in four sessions Tuesday as traders bet that data due out this week will show another weekly drop in U.S. crude supplies.

Traders stepped cautiously, however, watching fluctuations in the U.S. dollar against a backdrop of Greece’s potential debt default and the expected conclusion of the U.S. Federal Reserve two-day meeting starting Tuesday, followed by a news conference Wednesday afternoon.

July crude CLN5, +0.12%  tacked on 45 cents, or 0.8%, to settle at $59.97 a barrel on the New York Mercantile Exchange after tallying a loss of more than 3% over the past three trading sessions.


August Brent crude LCOQ5, +0.05%  on London’s ICE Futures exchange fell 25 cents, or 0.4%, to $63.70 a barrel.

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