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)
- Oil rises alongside equities, but weak OPEC outlook caps gains - August 17, 2019
- To meet future energy demands, India is promising a push toward sustainability - August 17, 2019
- Power woes: Govt cracks whip on defaulting discoms, but is it enough? - August 15, 2019