U.S. crude closed down slightly on Tuesday as investors fled to safe havens on worries about a near-bankrupt Greece and China’s stock market losses and as technical selling threatened to push oil into a bear market.
Iran’s determination to seal a nuclear deal with global powers to bring more of its crude to an oversupplied market and the restart of a key oil terminal in Libya also weighed on oil prices.
U.S. crude closed down 20 cents, at $52.33 a barrel, after falling almost $2 at the session low. Brent crude, on the other hand, rose 43 cents to $57 a barrel.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.