Oil futures settle lower, pressured by a possible OPEC+ output hike as traders eye U.S., Saudi tensions
Oil futures settled lower on Monday (http://www.marketwatch.com/story/oil-prices-resume-rally-ahead-of-this-weeks-opec-decision-on-crude-production-11614605469), pressured by the possibility that the Organization of the Petroleum Exporting Countries and its allies will decide to boost production levels when they meet later this week. Traders also eyed tensions between the U.S. and Saudi Arabia, after a spokeswoman for the White House reportedly said (https://www.reuters.com/article/us-usa-saudi-khashoggi-un/us-failure-to-sanction-prince-for-khashoggi-killing-dangerous-un-expert-idUSKCN2AT37U) the U.S. reserves the right to sanction Saudi Crown Prince Mohammed bin Salman after an intelligence report showed he approved an operation to capture or kill U.S.-based journalist Jamal Khashoggi. April West Texas Intermediate crude fell 86 cents, or 1.4%, to settle at $60.64 a barrel.
-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 01, 2021 14:46 ET (19:46 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.