FX.co ★ Oil Futures Settle Slightly Lower Ahead Of Inventory Data

Crude oil futures settled slightly down on Tuesday, after posting gains in the previous two sessions.

Traders are awaiting the upcoming meeting of the OPEC+, scheduled to take place on Sunday (November 26).

The group, which has already pledged total oil output cuts of 5.16 million barrels per day, is widely expected to extend its production cuts.

West Texas Intermediate Crude oil futures for January ended down $0.06 at $77.77 a barrel.

Traders now await weekly crude oil reports from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA). The API report is due later today, while the EIA is scheduled to release its inventory data Wednesday morning.