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Crude oil futures end lower on Tuesday

20 Sep 2023 Evaluate

Crude oil futures ended lower on Tuesday despite the U.S. Energy Information Administration (EIA) said on Monday in its report that oil output in the U.S. will likely fall to 9.393 million barrels per day in October, the lowest level since May 2023.  Meanwhile, traders await inventory data from the American Petroleum Institute (API) and Energy Information Administration (EIA). The EIA is scheduled to release its inventory data on Wednesday.

Benchmark crude oil futures for October delivery fell $0.28 or 0.3 percent to settle at $91.20 a barrel on the New York Mercantile Exchange. Brent crude for November delivery lost $0.09 or 0.10 percent to settle at $ 94.34 a barrel on London's Intercontinental Exchange.