Crude oil futures settled lower on Tuesday amid U.S. efforts to end the Russia-Ukraine conflict, which have sent positive signals of a ceasefire sooner than expected. Further, Caspian Pipeline Consortium’s Black Sea Terminal which was attacked by Ukrainian drones Terminal has resumed oil shipments from one mooring point in the terminal.
Benchmark crude oil futures for December decreased $0.68 or 1.15% at $58.64 a barrel on the New York Mercantile Exchange. Brent crude for February delivery declined $0.72 or 1.14% to settle at $62.45 a barrel on London's Intercontinental Exchange.
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