Crude Prices Fall for Second-Straight Day

Energy Reuters

U.S. crude oil futures ended lower for a second day on Tuesday on profit-taking in a sell-off sparked by weak durable goods data that overshadowed an upbeat report on consumer confidence.

Continue Reading Below

Technical signals showed the correction from near $110 a barrel has not completed and forecasts ahead of weekly inventory reports showed U.S. crude inventories rose last week, both also weighing on crude futures.

NYMEX crude for April delivery settled at $106.55 a barrel, down $2.01, or 1.85 percent, after trading between $106.30 and $108.79.

(Reporting By Gene Ramos)

What do you think?

Click the button below to comment on this article.