Crude Lingers Below $100

(RTTNews) - The price of crude oil was lingering below the $100-mark Tuesday morning as traders cash in on recent gains before the end of the year.

Light Sweet Crude Oil (WTI) futures for February delivery, slipped $0.37 to $98.92 a barrel. Yesterday, oil settled lower after data from the U.S. showed pending home sales index rose less than expected, although it was the first increase in six months. Crude prices were additionally impacted after news reports indicated the Libyan scenario to be improving with shipments expected to begin soon.

This morning the U.S. dollar was lingering near a 2-week low versus the euro and around a 2-year low versus sterling. The buck was extending its 5-year high against the yen, while flat versus the Swiss franc.

From the U.S., the Standard & Poor's will release its S&P/Case-Shiller house price index for October at 9 am ET. Economists expect house prices to have increased 1 percent month-over-month on a seasonally adjusted basis in October, the same pace of increase as in the previous month.