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Crude oil futures end lower on Tuesday

10 Apr 2024 Evaluate

Crude oil futures ended lower on Tuesday as traders assessed the prospect of some meaningful progress in Gaza ceasefire talks. According to private report, Egyptian and Qatari mediators met resistance in their search to find a way out of the war. Meanwhile, investors now await weekly inventory data from U.S. Energy Information Administration (EIA). The EIA is scheduled to release its inventory data Wednesday.

Benchmark crude oil futures for May delivery fell $1.20 or about 1.4% to settle at $85.23 a barrel on the New York Mercantile Exchange. Brent crude for June delivery dropped $0.98 or 1.07% to $89.40 per barrel on London's Intercontinental Exchange.