Oil prices are mixed as US fuel markets tighten while trade dispute weighs on Brent
Singapore — Oil prices were mixed on Tuesday, with US fuel markets seen to be tightening while the China-US trade dispute dragged on international crude contracts. US West Texas Intermediate (WTI) crude futures for September delivery were up 27c, or 0.4%, at 3.06am GMT, at $66.70 a barrel. The contract expires on Tuesday. The more active October futures were up 7c, or 0.1%, to $65.49 a barrel. Traders said US markets were lifted by a tightening outlook for fuel markets in the coming months. Inventories in the US for refined products such as diesel and heating oil for this time of year are at their lowest in four years. This is occurring just ahead of the peak demand period for these fuels, with diesel needed for tractors to harvest crops and the arrival of colder weather during the Northern Hemisphere autumn raising consumption of heating oil. Outside the US, Brent crude oil futures were slightly weaker, trading at $72.18 a barrel, down 3c from their last close. This followed the US...
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