Brent futures slipped 2 cents to settle at US$74.48 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 26 cents, or 0.4%, to settle at $71.65. That was the first decline for Brent in six days.
NEW YORK: Oil prices held steady on Tuesday ahead of the release of U.S. inventory data as investors worried that global demand could be dented by surging COVID-19 cases, even though supplies are tightening and vaccination rates rising.
U.S. crude oil, gasoline and distillate inventories fell last week, according to two market sources, citing American Petroleum Institute figures on Tuesday. U.S. crude prices settled slightly lower and pared losses after the API report.
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