Bulletin
Investor Alert

Market Pulse Archives

June 22, 2021, 2:41 p.m. EDT

Oil futures settle with a loss, pressured by speculation that OPEC+ will agree to more output hikes

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Myra P. Saefong

Oil futures settled lower on Tuesday, a day after settling at their highest since October 2018, as reports from Reuters and Bloomberg said OPEC+, the Organization of the Petroleum Exporting Countries and their allies, have discussed the possibility of raising production levels even more, starting in August. OPEC+ will hold its next meeting on July 1. It has already implemented a plan to gradually raise production from May through July, amid a recovery in oil demand. West Texas Intermediate oil for July delivery , which expired at the end of the session, fell 60 cents, or 0.8%, to settle at $73.06 a barrel on the New York Mercantile Exchange. The new front-month contract, August WTI oil , settled at $72.85, down 27 cents, or 0.4%.

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.