Oil futures fell on Tuesday, but held their ground above the $50-a-barrel level. The International Energy Agency reported that crude output from the Organization of the Petroleum Exporting Countries rose in September, even as the group continues to discuss a plan to cut back on production. November West Texas Intermediate crude fell 56 cents, or 1.1%, to settle at $50.79 a barrel on the New York Mercantile Exchange. Prices rose 3.1% on Monday, buoyed by news that Russia planned to back OPEC's proposal to reduce output.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.