Oil price rally reverses

Singapore
Oil prices fell in Asia Tuesday, reversing sharp gains in the previous session, hit by a strong dollar and persistent concerns over a global supply glut.
US benchmark West Texas Intermediate for October delivery, which expires at the end of the trading day, eased 58 cents to $46.10 in afternoon trade after spiking 4.1 percent at its close in New York on Monday.
Brent crude for November dipped 44 cents to $48.48 a barrel following a 3.1 percent surge in London.
"A resurgent US dollar weighed on crude prices. However, an improved risk tone could cushion oil prices on the downside," said Bernard Aw, market strategist at IG Markets in Singapore.
The dollar climbed after three Federal Reserve presidents put the argument for borrowing costs to rise by year´s end, in a bid to soothe concerns about the global economy that were stoked by the bank´s decision to hold fire Thursday.