⁍ Brent crude futures fell 3 cents to $42.59 a barrel by 11:55 a.m. EDT (1555 GMT)
November U.S. West Texas Intermediate (WTI) crude futures fell 4 cents to $40.79.
⁍ Investors are following negotiations between U.S. House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin over another U.S. coronavirus aid package.
– Oil was little changed on Tuesday, pressured by the threat to demand from rising coronavirus cases worldwide and increased Libyan output, though traders said talk of a US stimulus package was supporting markets. Brent crude futures fell 3 cents to $42.59 a barrel by 11:55am EDT. November US West Texas Intermediate (WTI) crude futures fell 4 cents to $40.79, per Reuters. The more active December contract was also down 4 cents at $41.02. Investors are following negotiations between US House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin over another US coronavirus aid package, said John Kilduff, partner at Again Capital in New York. “If we get a deal, I think that would be supportive, and if we don’t get a deal, I think that’s going to be somewhat punishing for prices,” Kilduff said.
Source: https://www.reuters.com/article/global-oil/oil-holds-steady-traders-look-to-us-stimulus-talks-for-hope-idUSKBN27507B