Oil Prices Little Changed As Dollar Gains, US Drawdown Seen

Oil prices were little changed in thin early Asian trade on Tuesday as a firmer dollar weighed on oil markets while a likely drawdown in U.S. crude and gasoline stockpiles pointed to stronger demand ahead of the U.S. summer driving season.

U.S. crude futures edged down 4 cents to $48.04 a barrel by 8.16 p.m. ET, having settled down 33 cents in the previous session.

Brent futures dipped 4 cents to $48.31 after closing down 37 cents in the previous session, with both contracts finishing with modest losses for a fourth straight session