Oil was steady above $81 a barrel on Tuesday, facing pressure from a firmer US dollar and caution ahead of a European Union summit to discuss Greece's debt woes. The American Petroleum Institute weekly oil inventory report, due later in the day, will offer clues on the outlook for demand in the world's top energy user.
While existing February home sales data could shed light on the health of the world's largest economy. US crude for May delivery sank 38 cents to $81.22 a barrel by 0745 GMT, after settling at $81.60 a barrel on Monday. The April delivery contract expired on Monday, settling up 57 cents at $81.25 a day earlier. London Brent crude for May fell 40 cents to $80.14.
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