Oil prices fell for a second day on Tuesday as more production facilities returned to operation in the U.S. Gulf after Hurricane Barry swept through over the weekend, while Chinese economic data dimmed the outlook for crude demand.
Brent crude futures were down 10 cents, or 0.2%, at $66.38 a barrel by 0028 GMT. They fell 0.4% overnight. U.S. crude fell by 10 cents, or 0.2% to $59.48 a barrel. The U.S. benchmark fell about 1% in the previous session.
Both contracts last week made their biggest weekly gains in three weeks as U.S. oil inventories fell and diplomatic tensions rose in the Middle East. Read More
Latest posts by CNBC (see all)
- BPCL divestment deep dive: Equity valuation expected between Rs 700-900/share - December 12, 2019
- Solar energy—the game changer in the realm of renewable energy - December 12, 2019
- Hyperloop will declutter Mumbai-Pune highway, says Virgin Group’s Richard Branson - December 12, 2019