NEW YORK (TheStreet) -- Stocks were narrowly mixed by the final hour of trading Tuesday as earlier upward momentum faded. Crude oil closed at its highest level this year, helping to sustain a rally in the energy sector.
The S&P 500 added 0.02%, the Dow Jones Industrial Average fell 0.03%, and the Nasdaq slipped 0.06%.
Crude oil closed at its highest level of 2015 as investors predict weekly data out Wednesday will show a drop in domestic crude inventories. West Texas Intermediate crude gained 1.8% to $61.26 a barrel.
The Organization of Petroleum-Exporting Countries is expected to keep production at record highs when members meet on Friday. OPEC has a target of 30 million barrels per day and major player Saudi Arabia is currently producing oil at record levels.
"The current reality is still characterized by considerable oversupply, which is likely to be confirmed initially by OPEC's decision on Friday," Commerzbank analysts wrote in a note. "We therefore envisage short-term correction potential."
Federal Reserve Gov. Lael Brainard struck a dovish tone in her first speech on monetary policy.