ADRs End Lower

By Ezequiel Minaya Features Dow Jones Newswires

International stocks trading in New York closed lower Tuesday.

Continue Reading Below

Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR), or Petrobras, was among the companies with ADRs that traded actively.

The BNY Mellon index of American depositary receipts fell 1.28% to 139.20. The European index decreased 1.34% to 132.54, the Asian index dropped 0.95% to 158.29, the Latin American index fell 2.33% to 211.54 and the emerging markets index declined 1.24% to 284.15.

Bets that global exporters could ease a supply glut through a historic agreement to cut output have been undermined as production has increased in the U.S., Libya and Nigeria. Global inventories of crude oil and oil products have remained high, compounding on worries that rebalancing the global oil market will be harder than previously thought. ADRs of Petrobras retreated 3.2% to $7.86.

Write to Ezequiel Minaya at Ezequiel.Minaya@wsj.com

(END) Dow Jones Newswires

Continue Reading Below

June 20, 2017 17:27 ET (21:27 GMT)