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SINGAPORE - Oil prices were little changed for the third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC and non-OPEC members. Brent crude dipped 7 cents, or 0.1 percent, to $55.94 a barrel as of 0229 GMT, with a firmer dollar, which rose slightly against a basket of other currencies, putting some pressure on dollar-denominated oil prices. U.S. West Texas Intermediate crude eased 3 cents, or 0.1 percent to $53.17 a barrel. "There's a lack of catalysts today possibly ... trading is around 25 percent of normal," said Michael McCarthy, chief market strategist at Sydney's CMC Markets. "One could say that with oil holding up when other industrial commodities, equities, and gold are weaker is quite a good performance. Everything else has caught the downdraft but oil is holding up," he said.
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