COMMODITY
Crude oil futures end lower on Tuesday
Jan-22-2020

Crude oil futures ended lower on Tuesday as investors worry about rising global supplies and a potential slowdown in global economic growth overshadowed a supply disruption in the Middle East due to unrest in Libya and Iraq. In a monthly report, the Energy Information Administration (EIA) forecast a monthly rise in US shale oil production of 22,000 barrels a day to 9.2 million barrels a day in February. Oil output from the Permian Basin is expected to see the biggest increase, but oil output from the Anadarko, Eagle Ford and Niobrara regions are expected to see monthly declines.

Crude oil futures for February lost 20 cents or 0.3 percent to settle at $58.34 a barrel on the New York Mercantile Exchange. March Brent declined 61 cents or 0.9 percent to settle at $64.59 a barrel on London's Intercontinental Exchange.

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