Oil News

Crude falls as traders await the U.S inventories and the greenback rises

Crude falls as traders await the U.S inventories and the greenback rises

U.S. crude oil futures ended down on Tuesday, dropping from Monday’s eight-week high, as the dollar’s strength and forecasts that weekly inventory data would show domestic crude stocks rose pressured the market. A Reuters poll forecast that U.S. crude stocks rose 1.9million barrels last week. Gasoline stocks were seen up 200,000 barrels and distillate supplies down 900,000 barrels. Wall Street rose on weak volume as a steady drumbeat of corporate news lifted specific stocks on the anniversary of the market hitting 12-year closing lows. Crude is trading at $81.45 as of 21:30pm, GMT, with a bearish trend. Crude