Receive Breaking News updates as they occur
By Swetha Gopinath SINGAPORE (Reuters) - Crude oil prices rose on Tuesday as the dollar eased slightly, but concerns about oversupply remained front of mind with OPEC expected to keep its output target unchanged at a policy meeting on Friday. A weakening of the dollar - which dipped against a basket of currencies on Tuesday - makes greenback-denominated contracts such as oil futures cheaper for those holding other currencies. "If we saw selling of the dollar and buying of the euro, it could support oil prices and give us a bit of a rally," said Ric Spooner, chief market analyst at Sydney's CMC Markets.
Faulty equipment and the crew's "inability to control the aircraft" caused an AirAsia A320 to crash into the Java Sea last year, killing all 162 people onboard, an Indonesian report said Tuesday. Flight QZ8501 plunged into the ocean in stormy weather on December 28, during what was supposed to be a routine flight from the Indonesian city of Surabaya to Singapore. The crash of the Airbus A320-200 triggered a huge international search, with ships and aircraft from several nations involved in a lengthy hunt that was hampered by strong currents and bad weather.