Oil down as US Gulf of Mexico output returns


Oil down as US Gulf of Mexico output returns

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

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