U.S. oil futures finished lower on Tuesday, but off the session’s worst levels, as traders weighed forecasts for a weekly rise in domestic crude supplies.
The American Petroleum Institute, an industry trade group, is expected to release its estimate of last week’s inventories to members after oil futures settle Tuesday. It’s watched as a guide to the Energy Information Administration’s official tally due Wednesday morning.
West Texas Intermediate crude for December delivery fell 27 cents, or 0.5%, to settle at $55.54 a barrel on the New York Mercantile Exchange, for the lowest finish in a week. It had tapped an earlier low of $54.61.
December Brent however, edged up by 2 cents, or 0.03%, to $61.59 a barrel on ICE Futures Europe after trading as low as $60.66.
Source : Marketwatch