Oil Prices Slip On Profit-Taking As Investors Eye U.S. Stockpile Data

Crude futures slipped in Asian trade on Tuesday as investors took profits after prices climbed more than 3 % in the previous session.

The dollar was also weighing on prices after rising against a basket of currencies, while a Reuters poll showed a build in U.S. crude stockpiles last week.

The Organization of the Petroleum Exporting Countries and other oil producers led by Russia are meeting informally on the sidelines of the International Energy Forum in Algeria from Sept. 26-28.U.S. West Texas Intermediate (WTI) crude  had fallen 38 cents to $45.55 a barrel by 0103 GMT, after rising $1.45, or 3.3 %, in the previous session.

 

Brent crude futures  slipped 43 cents to $46.91 a barrel after closing up $1.46, or 3.2 %.Get live News Updates visit us at Ripples Advisory or One Missed Call on @98-27-80-80-90.

 

U.S. commercial crude oil stocks likely rose by an average of 2.8 million barrels to 507.4 million barrels in the week to Sept. 23, reversing three weeks of unexpected draw downs, a Reuters poll of seven analysts showed.

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