Crude oil prices fell further on Tuesday in Asia with industry supply estimates from the U.S. expected to set the tone. 

 U.S. crude fell 0.82% to $45.91 a barrel on the New York Mercantile Exchange. The American Petroleum Institute will release its estimates of crude and refined product stock at the end of last week in data that will be closely followed following a massive draw of more than 12 million barrels. Traders attributed the drop to cargoes held offshore as hurricane weather disrupted shipping. 

The figures will be followed by official data from the U.S. Department of Energy on Wednesday after it also reported a massive draw last week. Global benchmark Brent fell 0.72% to $47.97 a barrel on the ICE Futures Europe exchange. 

Overnight, oil prices extended losses on Monday after the Organization of the Petroleum Exporting Countries revised up its oil output forecast from non-member countries for 2017. OPEC warned in its monthly report on Monday that oil markets will remain heavily oversupplied well into 2017 as new fields come online and U.S. shale drillers remain resilient in the face of cheap crude.For More Information Free Stock Tips, Mcx Tips, Commodity Market Tips, Intraday Trading Tips, Free Equity Tips on Mobile and you can call us on :-9827808090.