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Crude oil futures end lower for third straight session on Tuesday

17 Mar 2021 Evaluate

Crude oil futures ended lower for third straight session on Tuesday as traders bet that domestic crude supplies climbed for a fourth week in a row, in the wake of last month’s Texas deep freeze. Further, concerns about a likely drop in energy demand also weighed on oil prices amid reports several countries in Europe have temporarily suspended the use of AstraZeneca's coronavirus vaccine. Germany, France and Italy plan to suspend AstraZeneca COVID-19 injections after reports of possible serious side effects, although the World Health Organization said there was no established link to the vaccine.

Crude oil futures for April fell 59 cents or 0.9 percent to settle at $64.80 barrel on the New York Mercantile Exchange. May Brent crude dropped 49 cents or 0.7 percent to settle at $68.39 a barrel on London's Intercontinental Exchange.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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