Plus   Neg

Crude Oil Drifts Lower Ahead Of Inventories

Crude oil futures were little changed Tuesday morning ahead of U.S. inventories data.

The American Petroleum Institute is out with industry figures this afternoon, while the Energy Information Administration has official numbers tommorow morning.

Oil has seen little movement over the past few sessions, staying near recent 2-year highs.

WTI light sweet oil was down 29 cents to $56.47 a barrel today.

That's despite a bullish report from OPEC, which sees a huge pick up in global oil demand next year.

According to OPEC's monthly market report, the forecast demand for its oil next year has been increased by around 400,000 barrels a day from the previous month to 33.4mmbpd, about 0.46mmbpd higher than in 2017.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT