WTI Oil Settles Back Under $30 a Barrel

By Markets MarketWatch Pulse

Oil futures fell Tuesday to settle below $30 a barrel, as expectations for cuts in crude output from major producers faded and the market readied for weekly data that are expected to show an increase in U.S. supplies. March West Texas Intermediate crude finished at $29.88 a barrel on the New York Mercantile Exchange, down $1.74, or 5.5%. That was the lowest finish since Jan. 21, according to FactSet data.

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