Oil falls as pipeline outage weighs on U.S. Gulf Coast refinery runs
Tuesday,
11-May-2021
08:59 AM (IST)
Oil prices fell on Tuesday as the prospect of the main U.S. East Coast gasoline pipeline remaining shut for the rest of this week led some U.S. Gulf Coast refiners to cut output, denting their appetite for crude. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 40 cents, or 0.6%, to $64.52 a barrel at 0247 GMT, after gaining 2 cents on Monday. Brent crude LCOc1 futures dropped 45 cents, or 0.7%, to $67.87 a barrel, after climbing 4 cents on Monday.
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