MARCH 30, 2021
Oil prices slid more than 1% on Tuesday as the Suez Canal reopened to traffic and the U.S. dollar rallied. Investors shifted focus to the upcoming OPEC+ ministerial meeting on Thursday, where analysts expect the group to extend supply curbs given dim demand prospects. Brent crude fell 84 cents, or 1.3%, to settle at $64.14 a barrel while West Texas Intermediate U.S. oil ended the session down $1.01, or 1.6%, at $60.55 barrel. The benchmarks held their losses in post-settlement trade after industry data showed U.S. crude inventories swelled by 3.9 million barrels last week, sources said citing the American Petroleum Institute’s weekly report. Analysts in a Reuters poll forecast a build of about 100,000 barrels. Read more
