NEW YORK, May 12 (Xinhua) -- Crude oil briefly touched 60 U.S. dollars in a choppy session on Tuesday as investors reacted to the fall of dollar, U.S. stocks and energy demand.

Light, sweet crude for June delivery rose 35 cents to settle at 58.85 dollars a barrel on the New York Mercantile Exchange.

Futures rose to as high as 60.08 dollars a barrel in early trading on Tuesday as the dollar fell against euro and other major currencies. Price pulled back as Wall Street opened lower and remained largely negative until early afternoon trading.

What is also limiting oil's gain is the lingering demand concern. The U.S. Energy Department revised downward again in its latest forecasts for the world and U.S. oil demand in 2009 and 2010 released on Tuesday. The report predicted that the gas assumption will remain weak through 2010, compared with the levels in 2007 before the recession.

In London, Brent crude for June delivery rose 63 cents to 58.11dollars a barrel on the ICE Futures Exchange