Crude oil futures ended slightly lower on Tuesday amid modest build in crude oil inventories. The U.S. Energy Information Administration released a report that showed crude oil inventories inched higher by 405,000 barrels in the week ended December 19 following two weeks of decline. Meanwhile, street had expected crude oil inventories to decrease by 2.6 million barrels. However, losses remained capped due to the dimming possibilities of a Russia-Ukraine ceasefire along with geopolitical tensions in the Middle East and South America.
Benchmark crude oil futures for February decreased $0.13 or 0.22% at $57.95 a barrel on the New York Mercantile Exchange. Brent crude for February delivery declined $0.02 or 0.03% to settle at $61.92 a barrel on London's Intercontinental Exchange.
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