Prices settle about 4% lower on demand cuts, output increases

摘要

New York—Oil futures prices settled about 4% lower Tuesday as the odds of a resurrected OPEC+ production cut agreement appeared reduced and demand forecasts were slashed. The NYMEX April light sweet crude contract settled at $32.98/b, down $1.38 from Tuesday’s settle, while May ICE Brent crude futures settled at $35.79/b, down $1.43.