Oil hits four-month high on OPEC speculation; cut gains on dollar

By Barani Krishnan NEW YORK (Reuters) - Oil prices drifted on Tuesday, with Brent hitting four-month highs on a rally inspired by OPEC plans to tighten output before pulling back as a surging dollar weighed on greenback-denominated commodities. Earlier, Brent fell to $50.34. U.S. West Texas Intermediate (WTI) crude was down 3 cents at $48.78.