Crude futures close lower on Libya’s port reopening

摘要

New York—Oil futures settled lower Tuesday as an early morning rally fizzled as Libya’s Brega oil port was expected to reopen in as little as two days despite ongoing geopolitical tensions in the region. NYMEX August crude settled 17 cents lower at $104.42/barrel on the contract’s day of expiration. September crude settled 47 cents lower at $102.39/b. ICE September Brent settled 35 cents lower at $107.33/b. The front-month Brent-WTI spread settled at $4.94/b after reaching its lowest level in three-months at $4.60/b.