Oil Prices Stabilize As Markets Await Inventories And Economic Data

Brent crude futures settled slightly above $90 per barrel, today, Tuesday, as investors await a series of macroeconomic data scheduled for release later this week.

The price of global benchmark Brent crude fell six cents to $90.58 per barrel, while US West Texas Intermediate crude futures fell two cents to $87.27.

Brent reached $90 a barrel last week for the first time in ten months, after Saudi Arabia and Russia announced that they would extend voluntary supply cuts amounting to a combined 1.3 million barrels per day until the end of the year.

Investors are awaiting data from the sector regarding US crude inventories, scheduled to be issued this evening.”/End

Source: National Iraqi News Agency