U.S. crude oil futures fell on Tuesday after a report indicated OPEC will postpone its attempt to obtain a production cut until after November 30, according to Bloomberg MarketWatch.
On the New York Mercantile Exchange, January West Texas Intermediate crude fell by 21 cents, or 0.4%, to settle at $48.03 a barrel.
On the London ICE Futures Exchange, January Brent crude, the global benchmark, rose 22 cents, or 0.5%, to end trading at $49.12 a barrel.
Domestic crude inventories have posted increases in each of the last three weeks. Traders will get a weekly update on U.S. petroleum supplies late Tuesday from the American Petroleum Institute. The Energy Information Administration will release its official data early Wednesday.
Analysts predict an increase of 800,000 barrels for crude oil stockpiles for the week ending November 18.
Meanwhile, December natural gas gained 3.2 cents, or 1.1%, to settle at $2.982 per million British thermal units on the New York Mercantile Exchange. The EIA’s weekly natural gas supply report will be released on Wednesday, a day ahead of usual due to the Thanksgiving holiday on Thursday.