 "oilfield")
Oil prices turned negative after earlier hitting 18-month highs on Tuesday, the first trading day of 2017, as the US dollar rallied to its highest since 2002.
Traders said crude prices were buoyed earlier in the day by hopes that a deal between Opec and other big oil exporters to cut production, which kicked in on Sunday, will drain a global supply glut.
Brent futures were down 95 cents, or 1.7%, at $55.87 a barrel by 12:05 pm EST (1705 GMT). US West Texas Intermediate (WTI) crude fell 95 cents, or 1.8%, to $52.77 per barrel.
Earlier in the session, both oil contracts
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