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Crude Oil Tightropes $50 Again

Crude oil futures continued to fall Tuesday morning, and may struggle to hold the $50 a barrel mark ahead of US inventories data.

The American Petroleum Institute releases its inventories survey this afternoon, followed by official numbers from the Energy Information Administration tomorrow morning.

Both agencies showed a surprise drawdown in stockpiles last week, as US refineries resumed normal operations after Hurricane Harvey.

However, the global supply glut may linger into 2018 as OPEC is struggling to achieve compliance with its supply quota plan.

WTI light swet crude oil was down 17 cents at $50.42 a barrel.

by RTT Staff Writer

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