empty
 
 

2021.09.2819:03:00UTC+00Oil Futures Snap 5-day Winning Streak, Settle Marginally Down

Crude oil futures ended lower on Tuesday, snapping a five-day winning streak, as a sell-off in stock markets, and a stronger dollar weighed on the commodity.

Oil prices moved higher early on in the session with tighter supplies and optimism about energy demand.

The yield on U.S. 10-year Treasury note rose to above 1.5%, a three-month high, amid rising prospects of the Fed tapering its bond-buying program in the foreseeable future.

The dollar index rose to 93.81, gaining nearly 0.5%.

West Texas Intermediate Crude oil futures for November ended lower by $0.16 or about 0.2% at $75.29 a barrel, coming off a high of $76.67 a barrel.

Brent crude futures were down $0.72 or 0.9% at $78.00 a barrel a little while ago.

Traders now await weekly oil reports from the American Petroleum Institute (API) and Energy Information Administration (EIA).

The API's report is due later today, while the EIA will release its inventory data Wednesday morning.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback