Oil futures pulled back Tuesday, under pressure as traders see signs that Saudi Arabia is making progress in restoring production following attacks on processing facilities as well as concerns over the global demand picture.
West Texas Intermediate crude for November delivery the U.S. benchmark, was of 53 cents, or 0.9%, at $58.11 a barrel. November Brent, the global benchmark saw heavier pressure, falling 85 cents, or 1.3%, to $62.88 a barrel.
Traders have been weighing conflicting assessments over Saudi Arabia's progress in restoring production after attacks on processing facilities on Sept. 14 cut the country's output by around 5.7 million barrels a day.
Source : MarketWatch