1/24, 5:12 PM (Source: TeleTrader)
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Oil down 1% ahead of US inventory data

Prices of oil futures declined 1% on Tuesday as traders awaited the latest data on United States oil stockpiles that will be issued by the American Petroleum Institute later in the day. A separate report by the Energy Information Administration is due on Wednesday.

In addition, new figures from the private sector in several major economies and regions showed that manufacturing activity remains in contraction territory.

West Texas Intermediate (WTI) for settlements in March was down 1.19% to $80.73 per barrel at 10:58 am ET, while Brent for deliveries in the same month decreased by 1.30% to $86.86 per barrel at 11 am ET.

Baha Breaking News (BBN) / MS