Crude Continues Sell-Off on Stronger Dollar, Supply Glut (OIL) (USO)

Crude prices are continuing to sage Tuesday and nearing $50 per barrel as the sell-off continues.

While investors have noted continued levels of increased production, a recently strengthening U.S. dollar has also deterred some as crude is a dollar-denominated commodity. The stronger dollar makes crude more expensive to outside investors.

Markets are also looking to Iran and the potential to lift sanctions against the country, which would introduce more oil supply into an already over saturated market.

In focus are: iPath Dow Jones-Goldman Sachs Crude Oil Fund (NYSE: OIL) and United States Oil Fund (NYSE: USO).

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