Oil complex settles lower ahead of OPEC meeting

摘要

New York—NYMEX July crude settled near flat Tuesday, down 6 cents at $104.35/ barrel, after pulling back from a three-month high on profit-taking ahead of Wednesday’s OPEC meeting. July crude reached the three-month high of $105.06/b during the session on expectations that US inventories fell last week. The price action narrowed the front-month Brent- WTI spread to an eight-week low of $5.07/b during the session.