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Crude oil futures end lower on Tuesday

19 Mar 2025 Evaluate

Crude oil futures failed to maintain early gains and settled lower on Tuesday amid easing concerns about supply disruptions after Russian President Vladimir Putin agreed to refrain from attacking Ukrainian energy infrastructure for 30 days. Traders remained cautious amid worries about global growth due to the impact of U.S. government's trade tariffs. Further, traders await weekly inventory data from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA) this week.

Benchmark crude oil futures for April slid $0.68 or about 1% at $66.90 a barrel on the New York Mercantile Exchange. Brent crude for May delivery slump $0.51 or 0.76% to settle at $70.56 a barrel on London's Intercontinental Exchange.