WASHINGTON (dpa-AFX) - Oil prices fell on Tuesday, extending losses to a third straight session, amid concerns about the outlook for demand, and on reports that Hurricane Beryl did not cause any big damage to refineries and ports along the Gulf coast.
West Texas Intermediate Crude oil futures for August ended down $0.92 or at $81.41 a barrel.
Brent crude futures were down $0.91 or 1.06% at $84.84 a barrel a little while ago.
Beryl, which made landfall in Matagorda, Texas as Category 1 hurricane on Monday, weakened into a tropical storm and moved inland as a depression. According to reports, the port of Corpus Christi, a leading oil export terminal, has transitioned to post-storm recovery with no significant impact.
The market now awaits weekly oil reports from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA). The API's repots is due later today, while the EIA will release its inventory data Wednesday morning.
Last week's data from EIA had showed oil inventories plunged by 12.2 million barrels in the week ended June 28th, after climbing by 3.6 million barrels a week earlier.
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