Fog, and 31 ° F. 
NEW YORK (DTN) — New York Mercantile Exchange oil futures were lower at the start of regular trade on Tuesday morning, but pared the losses after S&P/Case-Shiller index on home prices came in better-than-expected.
The S&P/Case-Shiller index on home prices in 20 major cities across the U.S. showed a 4.2 percent jump for June compared to year earlier levels.
At the 9:00 AM ET opening bell, October NYMEX WTI crude futures were down 97cts to $73.73, with the contract set to test initial support near $69.50 to $71.00 bbl.
In products trade, September NYMEX No. 2 heating oil futures fell 1.42cts to $2.0110 gal, but pared the losses soon after the open. Major support for the contract is seen at the August low of $1.9256 followed by the July low of $1.8968.
September NYMEX RBOB gasoline futures were down 1.79cts at $1.9162 gal before paring the losses after the open. Support is near $1.9000.
Oil prices fell in overnight trade largely on economic concerns and expectations that U.S. crude inventories rose last week. Oil futures were shallowly mixed shortly after the open however, but have since resumed to the downside.
Investors for the rest of the week will be looking to manufacturing data due out on Wednesday and August nonfarm payrolls data due on Friday for additional clues about the strength of the U.S. economy.
Both September NYMEX RBOB and heating oil futures contracts will expire at the close of regular business today, which could make for seesaw trading .
