"What were tailwinds have become headwinds", said Bob Yawger, director of energy futures at Mizuho in NY.
In a televised speech on Sunday, Iranian President Hassan Rouhani said that Iran is ready to hold talks with the United States if Washington lifts sanctions and returns to the 2015 nuclear deal it quit past year.
The recent declines have scuppered a month-long oil rally, with fears about global demand and surging USA shale supplies reemerging.
Meanwhile, in the US, the industry-funded American Petroleum Institute reported USA distillate stockpiles rose by 6.23 million barrels last week. USA equities markets retreated as well on the prospect that the spat between the world's two top economies could persist. Crude's also lost some of the uplift from Hurricane Barry, which shuttered nearly three-quarters of Gulf of Mexico output over the weekend.
Workers were returning to the more than 280 production platforms that had been evacuated. Brent for September settlement was 33 United States cents higher at US$67.05 a barrel on the ICE Futures Europe Exchange and traded at a premium of US$6.52 to WTI for the same month. It can take several days for full production to be resumed after a storm leaves the Gulf of Mexico.
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"If there is, we need to know how this is happening and how to prevent depression in young people", said Dr. The study was carried out over four years by researchers at the Sainte-Justine Hospital in Montreal.
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Talks of trading Smith began shortly after he was asked to leave the team in November, when the Cavs considered him a trade asset. Smith played in just 11 games in 2018-19 before he agreed to part ways with the Cavaliers and sat out the rest of the season.
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The country CEO also urged Italy to make a "transparent, efficient, and fair" use of its golden power on the development of 5G networks.
Brent on Tuesday was down 10 cents, or 0.2 percent, at $66.38 per barrel while West Texas Intermediate also fell by 10 cents, or 0.2 percent, to $59.48 per barrel; in the previous session they fell 0.4 percent and 1 percent respectively. The benchmark crude traded at a premium of $6.53/bbl to WTI for the same month. Gasoline inventories fell 476,000 barrels. However, the rally fizzled amid speculation the data could deter the Federal Reserve from cutting interest rates. Prices rose 3.9% last week.
"This market's muted response to Gulf Coast storm activity appears to suggest that (Gulf of Mexico) production curtailments will prove minimal while any lost output could easily be offset", Jim Ritterbusch, president of Ritterbusch and Associates, said in a note.
There was 1.3 million barrels per day (bpd) of oil production off line in the U.S. -regulated areas of the Gulf of Mexico on Monday, about 80,000 barrels less than on Sunday, according to the U.S. Bureau of Safety and Environmental Enforcement (BSEE).
-With assistance from James Thornhill, David Ingles, Yvonne Man and Tsuyoshi Inajima.