Oil prices were mixed Tuesday, as lower-than-expected inventories buoyed the U.S. crude grade while refinery maintenance in Europe weighed on oil prices in the region.
West Texas Intermediate futures rose 43 cents, or 0.7%, to $62.11 a barrel. Brent crude, the global benchmark, slipped 46 cents, or 0.7%, to $65.21 a barrel.
Investors are assessing conflicting U.S. data from last week about surging U.S. shale output coupled with a lower than expected build up in U.S. stocks and falling oil inventories at Cushing, Okla., which have declined by nearly 50%, according to analysts at Standard Chartered.
Now refinery maintenance in several regions including Europe is putting a damper demand for crude causing a divergence of the crude grades.
Source : Marketwatch