ET - Oil reverses early gains; WTI dips below $75

Energy stocks are little changed in premarket trading after WTI crude rose to the highest level in more than six years before turning negative, in the wake of OPEC's failure to agree on a production increase.Shares are mixed with small gains and losses: [[XOM]] -0.2%, [[CVX]] -0.1%, [[COP]] -0.8%, [[RDS.A]] +0.4%, [[BP]] -0.2%, [[MRO]] +0.1%, [[OXY]] -0.5%, [[EPD]] +0.4%, [[ET]] +0.2%, [[PAA]] +0.4%, [[AMLP]] +0.9%.The U.S. WTI benchmark (CL1:COM) traded as high as $76.98/bbl, highest since November 2014, but gains were erased by 9 a.m. ET, and the August contract now -0.5% to $74.79/bbl; September Brent (CO1:COM) hit its highest level since late 2018 before also reversing gains, last trading -1.5% at $75.98/bbl.ETFs: [[XLE]], [[USO]], [[UCO]], [[XOP]], [[VDE]], [[GUSH]], [[OIH]], [[ERX]], [[BGR]], [[BNO]]Oil's reversal also has pushed other commodities lower, including London copper, aluminum and nickel, while the dollar extends gains to session highs.

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Oil reverses early gains; WTI dips below $75