Oil futures ended lower Tuesday, as traders bet that the departure of U.S. National Security Adviser John Bolton will ease tensions with Iran, potentially leading to the lifting of sanctions, which could put more oil on the market.
Meanwhile, in a monthly report, the Energy Information Administration significantly cut its U.S. and global benchmark crude-price for this year in next, contributing to losses for U.S. oil prices and weakness in Brent crude.
West Texas Intermediate crude for October delivery on the New York Mercantile Exchange fell by 45 cents, or 0.8%, to settle at $57.740 a barrel, after an earlier high of $58.76. That was the first loss in five sessions. November Brent crude the global benchmark, lost 21 cents, or 0.3%, to $62.38 a barrel on ICE Futures Europe, pulling back from an earlier high of $63.78.
Source : Marketwatch