NEW YORK – Oilpricesfell more than 4 percent on Tuesday on concerns about whether the U.S. Congress will pass the U.S. debt ceiling pact and as mixed messages from major producers clouded the supply outlook ahead of the OPEC+ meeting this weekend.
Brent crude futures settled down $3.53, or 4.6 percent, at $73.54 a barrel. U.S. West Texas Intermediate crude (WTI) was down $3.21, or 4.4 percent, from Friday’s close, to $69.46 a barrel. There was no settlement on Monday because of a U.S. public holiday.
Some hard-right Republican lawmakers said they might oppose a deal to raise the debt ceiling in the U.S., the world’s biggestoiluser. Democratic President Joe Biden and Republican Hous…
Keep on reading: Oil slides 4% on worries about US debt ceiling, OPEC+ talks