Oil prices fall 3 percent on stronger dollar, renewed glut worries

By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices slid more than 3 percent on Wednesday as the dollar jumped after the U.S. Federal Reserve's decision to hike U.S. interest rates and after a jump in crude inventories at the biggest U.S. storage centre renewed concerns about a glut. Russia has never actually done any cutting in the past," Michael Wittner, global head of oil research at Societe Generale said in a note.